KANSAS CITY (May 1, 2008) – CST Industries, Inc. (CST), a global leader in the design, manufacture, and sale of factory coated metal storage tanks and silos, today announced that it has acquired Conservatek Industries, Inc. The Sterling Group, L.P. , a Houston-based private equity firm, is the majority owner of CST.
Headquartered in Conroe, Texas, Conservatek is a leading manufacturer and installer of custom designed aluminum covers for various industries and applications worldwide. The Company’s broad product offering includes aluminum geodesic domes, extruded and formed flat covers, truss and joist supported roof structures and custom architectural cover designs for use in a wide variety of applications. Conservatek provides covers for storage tank applications in water, wastewater and petroleum as well as large dome structures for the storage of dry bulk materials. Conservatek’s architectural products are incorporated in many different building designs all over the world.
“Conservatek is recognized internationally as a leading designer and manufacturer of aluminum covers. Its design and engineering expertise, experienced management team and manufacturing capabilities are a strong fit with CST’s existing businesses” said Ron Stier, President and CEO of CST. “We look forward to working closely with Conservatek’s management team to enhance both organizations’ performance in our markets worldwide.”
About CST Industries, Inc.
CST Industries, Inc. (www.tanks.com), headquartered in Kansas City, is the global leader in the manufacture and erection of factory coated metal storage tanks. CST provides unique and proprietary glass-fused-to-steel and epoxy coating technology for its factory welded and bolted storage systems. CST’s existing company portfolio consists of Columbian TecTank, Engineered Storage Products and CST Vulcan, Inc. Manufacturing facilities and technical design centers are located in Parsons, Kansas; Winchester, Tennessee; DeKalb, Illinois and the United Kingdom. Regional sales offices are located throughout North America and in Mexico, Argentina, United Kingdom, Singapore and Dubai.
About The Sterling Group, L.P.
Founded in 1982, The Sterling Group (www.sterling-group.com) is a private equity investment firm that targets controlling interests in basic manufacturing, industrial services and distribution companies. Typical enterprise values of these companies range from $100 to $500 million. Sterling has sponsored the buyout of over 30 portfolio companies and numerous add-on acquisitions for a total transaction value of approximately $8 billion. Currently, Sterling has $600 million of committed capital under management.
For additional information about CST, please contact:
CST Industries, Inc.
For additional information about Sterling, please contact:
The Sterling Group, L.P.