January 12, 2021 – Broadtree Partners LLC (“Broadtree”), a lower-middle market private equity firm, announced today that it has acquired Contract Sweeping Services, LLC (“Contract Sweeping”) and Statewide Construction Sweeping, LLC (“Statewide Sweeping”; collectively, the “companies”) through a new holdings company, West Sweeping Services Holdings, LLC (“West Sweeping”). Bank Prov provided senior debt and True West Capital Partners (“True West”) provided subordinated debt & equity to support Broadtree’s acquisition of the companies.
Contract Sweeping is one of California’s largest Municipal street sweeping service providers to California’s largest municipalities, cities, and waste management companies. Statewide Sweeping is the largest construction sweeper in Northern California and provides regulatory required sweeping services for General Contractors mainly involved in highway and road improvement projects. Both companies originated as sister companies to Universal Site Services, Inc., a full-site service maintenance company that was founded in 1958.
Manvendra Saxena, Operating Partner & Principal at Broadtree will take over as the President & CEO of Contract Sweeping and Statewide Sweeping and manage future acquisitions under West Sweeping. Joe and Gina Vella, the former owners of Contract Sweeping and Statewide Sweeping will be equity holders of West Sweeping and will continue to support the operations and provide meaningful leadership and guidance to Manny and the companies.
“Contract Sweeping and Statewide Sweeping are among the largest players in power sweeping in California with a long rich history. I am excited to build upon the legacy of Gina and Joe by continuing to provide the best-in-class service to our customers and keeping our communities safe and clean.” said Manvendra Saxena, President and CEO of Contract Sweeping/Statewide Sweeping. “We are also actively looking to add other companies to our family via acquisition and partnership with organizations that share our ethos of quality of service, culture of safety and hard work in a family environment.”
“We are excited to remain part of the growth and future expansion of Statewide Sweeping and Contract Sweeping. Together we believe in the strength of the industry as well as trust in Manvendra Saxena’s leadership and continued support from Broadtree’s infrastructure and resources.” said Gina and Joe Vella, the Founders of Contract Sweeping and Statewide Sweeping. “We both agreed that the time was right to take our thriving family-run operation to the next level and looked to partner with Broadtree because of the integrity they exhibited during diligence. Their team had proven to share the same ideals for growth; and their commitment to reinvesting back into our organization, our teams, and technology to create opportunities for continued expansion . To date they have stayed true to their commitment and work daily within the operation as a hands-on partner for the management team.”
“Broadtree is extremely excited to partner with the Vella Family and the teams at Contract Sweeping and Statewide Sweeping. There is a lot of opportunity in the power sweeping space and we will aggressively look to partner with other industry players to continue building thoughtfully upon the platform the Vellas created. By combining the Vella's knowledge and deep industry relationships with the team at Broadtree we look forward to creating a regional powerhouse in the sweeping space." said Brad Batten, Managing Partner at Broadtree.
“Contract Sweeping and Statewide Sweeping are the established leaders of sweeping services in the San Francisco bay area with an impressive history of growth and a reputation for quality service. We are excited to partner with Broadtree to support the continued growth plans for the business,” said Brian Hayden, Managing Director, True West Capital Partners.
Moore & VanAllen served as legal advisor to Broadtree and Law Offices of Peter D. Feinberg served as the legal advisor to Contract Sweeping and Statewide Sweeping.
About West Sweeping Services Holdings, LLC
West Sweeping Services Holdings, LLC is a holding company created to acquire power sweeping companies that perform street, highway, construction, parking lot, and industrial power sweeping to private and government entities.
About Broadtree Partners
Broadtree Partners, headquartered in Charlotte, North Carolina, is a lower-middle market PE firm with an operator-centric model. Broadtree’s unique executive-in-residence approach allows owners to smoothly exit their companies and seamlessly change leadership while preserving their legacy; and also to further accelerate growth by bringing operational and financial resources to founder-led teams. Broadtree’s team of operators and entrepreneurs work very closely with owners throughout the transaction process and transition to running the day-to-day operations after an acquisition. Broadtree seeks to partner with business owners and entrepreneurs to provide operational resources and institutional capital to transform and grow founder-owned businesses in the lower-middle market. Broadtree’s goal is to fuel stable, long-term growth while preserving the company’s core values.
Learn more at www.broadtreepartners.com
About True West Capital Partners
True West Capital Partners is a West Coast-based investment firm that provides flexible and creative growth capital to middle-market companies in the Western U.S. True West Capital Partners typically makes investments from $5 to $25 million in businesses with proven management teams, strong barriers to entry, sustainable competitive advantages, and high free cash flows. www.truewestcp.com.
About Bank Prov.
Bank Prov. is a direct lender headquartered in Amesbury, Massachusetts. Serving local communities for over 200 years, Bank Prov is an innovative commercial bank that finds solutions for business and private clients. Bank Prov is committed to strengthening the economic development of the region it serves. Learn more at www.bankprov.com
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Contact:
Elizabeth Spotts
