News

Acquisition

January 16, 2017

Safe Fleet, A Portfolio Company of The Sterling Group, Acquires Randall Manufacturing

The Sterling Group, a private equity firm based in Houston, Texas, announced that its portfolio company, Safe Fleet, has completed the acquisition of Randall Manufacturing LLC (“Randall”). This marks Safe Fleet’s eighth acquisition during Sterling’s ownership.  Safe Fleet is a leading supplier of safety components for fleet vehicles.

Based in suburban Chicago, Illinois, Randall is a leading manufacturer of specialized safety products used mainly in refrigerated semi-trailers in connection with the transportation of food and beverages. “Randall is an excellent addition to Safe Fleet’s portfolio. Through innovation and consistent execution, Randall has developed a high level of brand equity and trust with their customers and end-users,” stated John Knox, CEO of Safe Fleet. “The Randall brand and product line strongly complements Safe Fleet’s truck and trailer offerings. We are delighted to welcome Fred Jevaney and the Randall organization to Safe Fleet.”

Safe Fleet provides a wide variety of safety-and productivity-oriented components to bus, rail, RV, truck and trailer, work truck, emergency, waste, industrial and military end markets. “The addition of the Randall team and product will further Safe Fleet’s ability to offer a full line of safety solutions to our wide range of fleet customers,” said Brian Henry, a Partner at The Sterling Group.

Safe Fleet has more than doubled in size during its partnership with Sterling and will continue to pursue both organic and acquisition related growth.

 About Safe Fleet

Headquartered in Belton, MO, Safe Fleet owns a portfolio of brands that provide safety solutions to fleet vehicle manufacturers and operators around the world.  These brands serve several major markets including: Bus, Rail and RV, Truck and Trailer, Work Truck, Emergency, Waste, and Industrial and Military. Within Truck and Trailer, the ROM and Bustin brands provide a variety of access and safety products specific to over the road semi-trailers, including refrigerated semi-trailers. With over 1,100 employees and 10 manufacturing locations, Safe Fleet targets markets with increasing demand for operator, passenger, and pedestrian safety. For more information about Safe Fleet and our portfolio of brands please visit www.safefleet.net.

 About The Sterling Group

Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 50 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.2 billion of assets under management.  For further information please visit www.sterling-group.com.

Past performance is no guarantee of future results and all investments are subject to loss.



Acquisition

January 03, 2017

Lynx FBO Network, a Portfolio Company of The Sterling Group, Acquires Two New Locations

The Sterling Group, a middle market private equity firm based in Houston, Texas, today announced that its platform company, Lynx FBO Network, has completed two acquisitions at Anoka County-Blaine Airport serving the Minneapolis/St. Paul metropolitan area, with prime access to US Bank Stadium and downtown Minneapolis. Lynx simultaneously acquired both Cirrus Flight Operations and Key Air Twin Cities. “We look forward to bringing the Lynx level of service and our extensive FBO expertise to the Minneapolis/St. Paul area,” said Chad Farischon, a Partner with Lynx.

In August 2016, Sterling launched Lynx, a buy-and-build effort in the FBO industry, and is executing a plan to build a leading FBO network providing general aviation services. The Cirrus and Key locations at Anoka mark the third and fourth acquisitions for Lynx during the first four months of operations.

“Key Air Twin Cities has developed world class FBO terminal and hangar facilities, a state of the art fuel farm, and a large ramp capable of handling significant aircraft activity in a safe and efficient manner. Those attributes combined with the Lynx team’s experience in handling special events, the ease of access to US Bank stadium, and a group of talented employees joining our team from both Cirrus and Key make Lynx the optimal location to serve our customers during the 2018 Super Bowl,” stated Tyson Goetz, a Partner with Lynx.

Sterling has assembled a strong and experienced team to build the new network. Greg Elliott, a Partner at The Sterling Group, has been involved in building several FBO networks in the past fifteen years, including roles as the Chairman of Encore and Trajen, and Board member of Landmark Aviation. Chad Farischon and Tyson Goetz are former members of both the Trajen, Atlantic Aviation, and Landmark Aviation management teams and have purchased and integrated over 50 FBOs over the course of their careers. The pipeline for further acquisitions remains strong.

“Anoka County is an excellent addition to our rapidly growing network,” said Greg Elliott. Lynx currently operates locations near Destin, Florida, Portland, Oregon and now Minneapolis, Minnesota. Lynx and Sterling are actively seeking acquisitions in North America.

About The Sterling Group

Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 50 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.2 billion of assets under management.  For further information, please visit www.sterling-group.com.

Past performance is no guarantee of future results and all investments are subject to loss.