March 05, 2018
The Sterling Group, a Houston-based middle market private equity firm, announced that its portfolio company, Construction Supply Group (“CSG”), has completed the acquisition of Zia Concrete Supply, a construction supply distributor operating out of Albuquerque, New Mexico since 1997. Construction Supply Group is a leader in the distribution of construction materials, accessories and tools, primarily for professional concrete and masonry contractors in the United States and Canada. The combined company has 74 branches with over 1,150 employees and offers over 70,000 SKUs to nearly 25,000 customers.
Zia Concrete Supply is the seventh acquisition by Sterling as a part of the Construction Supply platform. In late 2016, Sterling acquired Brock White Company, LLC, Border Construction Specialties, LLC and Stetson Building Products to form Construction Supply Group. The company later executed a carve-out of five Gerdau distribution branches and the acquisitions of Carter Waters and Brock White of Wisconsin, extending its footprint throughout the Midwest. Following the transaction, Zia Concrete Supply will be integrated into CSG’s Southwestern business unit, Border Construction Specialties. “Construction Supply Group is the ideal partner for us,” said Mike and Grace Moore, Owners of Zia Concrete Supply. “Their platform will allow us to better serve our customers in the New Mexico market, and we are excited to grow with the business.”
“We look forward to partnering with Mike and Grace Moore and Zia Concrete Supply’s employees as we expand our footprint across the Southwest into New Mexico,” said Brian Saker, President of Border Construction Specialties. “This acquisition furthers our goal of providing comprehensive service and product offerings to professional contractors across North America,” said Mitch Williams, CEO of Construction Supply Group. Construction Supply Group will continue to seek further additions to its family of construction distribution businesses.
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 52 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.
March 01, 2018
The Sterling Group, a middle market private equity firm based in Houston, Texas, today announced that its platform company, Lynx FBO Network, has completed the acquisition of the FBO assets of Fly Arkansas at Clinton National Airport in Little Rock, Arkansas. Fly Arkansas retains the FBO at Boone County Airport and Aircraft Management and Charter. 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. This marks their sixth acquisition since inception.
“We’re thrilled to welcome Little Rock to our growing network,” said Chad Farischon, a partner with Lynx. “Such an optimal location will allow us to better serve our customers across the southeast.”
Sterling has assembled a strong and experienced team to build the 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, Tyson Goetz, and Matt DeLellis are former members of large networks including Trajen, Landmark Aviation and Atlantic Aviation. The management team purchased and integrated over 50 FBOs over the course of their careers.
“Little Rock is an ideal location for us to continue our network’s expansion,” said Greg Elliott. “This allows us to further execute on our vision to create a preeminent, best-in-class FBO network.” Lynx currently operates locations near Destin, Florida, Portland, Oregon, Minneapolis, Minnesota and now Little Rock, Arkansas. 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 52 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.
The Sterling Group is an operationally focused middle market private equity firm that builds winning businesses for customers, employees and investors.
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