News

Acquisition

August 31, 2020

Frontline Road Safety, A Portfolio Company of The Sterling Group, Completes the Acquisition of Apply-A-Line

Frontline Road Safety (“Frontline”), a portfolio company of The Sterling Group, today announced the acquisition of Apply-A-Line.  Through its operating companies, Frontline provides pavement marking services to a variety of end markets and customers.

Based in Pacific, Washington, Apply-A-Line is a leading provider of road and airport striping solutions primarily in the Northwest United States. “We look forward to partnering with Frontline, and together working to even better serve our customers,” said Mike Liljestrom, President of Apply-A-Line.

“Given its position as a market leader in its core markets, and longstanding track record of operational excellence, Apply-A-Line is a key component of Frontline’s growth strategy as we build a national leader in the road safety industry,” said Brad Staller, Partner at The Sterling Group.

Over the last several years, Sterling has developed an investment thesis in the road safety and infrastructure maintenance industry. Through organic growth and further M&A, Sterling intends to build Frontline into the leading road safety solutions provider with best-in-class local execution capabilities. Sterling has a long history of partnering with entrepreneurs and management teams to support the growth of their businesses.

Willkie Farr & Gallagher LLP acted as legal advisor to The Sterling Group.

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 57 platform companies and numerous add-on acquisitions for a total transaction value of over $14.0 billion. Currently, Sterling has over $4.0 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

August 03, 2020

The Sterling Group Forms Frontline Road Safety and Completes the Acquisition of Stripe-A-Zone

The Sterling Group, a Houston-based middle market private equity firm, today announced the establishment of Frontline Road Safety (“Frontline”), a new platform formed to build a national leader in the US road safety industry.

In conjunction with the establishment of Frontline, Sterling announced that it has partnered with Stripe-A-Zone as the first member of the Frontline family of companies. Based in the Dallas-Fort Worth metroplex, Stripe-A-Zone has been providing striping and related services on roads, highways, airports and parking lots for nearly 70 years.  For the last 24 years, the company has been owned and operated by the Sargent family, who have built the company in to a pavement marking leader in the state of Texas.

Over the last several years, Sterling has developed an investment thesis in the road safety and infrastructure maintenance industry. Sterling’s study of the industry resulted in a strong relationship with Stripe-A-Zone management and the Sargent family.  Sterling and the Sargent family have formalized a partnership based on a vision to bring together leading companies from distinct geographies and share best practices.

“In teaming with Stripe-A-Zone, we are establishing an outstanding foundation for the Frontline platform, partnering with best-in-class operators as we build a national leader in the road safety industry,” said Brad Staller, Partner at The Sterling Group.

“Joining with Sterling and Frontline was the right next step in the growth of our family’s business given our shared vision for the industry,” said David Sargent, President of Stripe-A-Zone.

Through organic growth and further M&A, Sterling intends to build Frontline into the leading road safety solutions provider with a national presence and best-in-class local execution capabilities. Sterling has a long history of partnering with family and entrepreneur owners and their management teams to support the growth of their businesses.

Willkie Farr & Gallagher LLP acted as legal advisor to The Sterling Group.

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 57 platform companies and numerous add-on acquisitions for a total transaction value of over $14.0 billion. Currently, Sterling has over $4.0 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

March 23, 2020

Tangent Technologies, a Portfolio Company of The Sterling Group, Completes The Acquisition of Bedford Technology

The Sterling Group, a Houston-based middle market private equity firm, announced that its portfolio company, Tangent Technologies, completed the acquisition of Bedford Technology at the end of February. Headquartered in Aurora, Illinois, Tangent is a leading manufacturer of high-density polyethylene (“HDPE”) lumber used for outdoor furniture, site amenities, structural applications, and marine decking. Bedford is a leading plastic lumber extruder in North America with excellence in structural and semi-structural product lines, primarily used in marine infrastructure projects, boardwalks, fencing, as well as a broad range of industrial applications.

In recent years, HDPE lumber has become a leading substitute for traditional building materials in outdoor furniture and other applications given its durability and aesthetics. Tangent and Bedford both use post-consumer recycled milk bottles as a primary raw material along with many other post-industrial recycled waste streams. Combining Tangent and Bedford creates a leading alternative materials innovation team and expands both business’ plastic lumber product lines.

“We are excited to partner with Bedford and expand the combined plastic lumber product lines and solutions,” said Guy DeFeo, CEO of Tangent. “With the addition of Bedford, we will build a broader facility footprint across North America as well as build one of the best alternative material innovation organizations for our customers.”

“We are looking forward to increasing sustainable manufacturing capabilities and expanding our innovation capabilities through this partnership with Tangent,” said Jeff Breitzman, CEO and President of Bedford Technology. “The talent and skills that both organizations are bringing to the table will enhance how the combined company serves its customers and will fuel many new growth opportunities” said Brian Larsen, Founder of Bedford Technology and former CEO.

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 56 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.0 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

March 03, 2020

Artisan Design Group, a Portfolio Company of The Sterling Group, Completes the Acquisition of Value Plus

Artisan Design Group (“ADG”), a portfolio company of The Sterling Group, today announced the acquisition of Value Plus Flooring, LLC (“Value Plus” or the “Company”). ADG is a dealer of flooring products and services, providing design, procurement, installation and quality control of flooring and complementary products for homebuilders and multi-family developers.

Value Plus is a leading provider of installation services for flooring and complementary products, primarily serving multi-family new construction and multi-family relay/aftermarket segments. Headquartered in Eagan, Minnesota, the Company serves the Minneapolis-Saint Paul region and surrounding areas, and has been a trusted partner to its general contractor, multi-family developer and homebuilder customers since 1996.

“Value Plus’ established presence in the industry and strong customer relationships are a welcomed addition to Artisan Design Group and we look forward to partnering with them,” said Larry Barr and Wayne Joseph, Co-CEOs of ADG. “The Company will help ADG build scale and extend our national reach to the Midwest region, allowing us to better serve our multi-family customers.”

Headquartered in Southlake, Texas, ADG operates more than 90 distribution, design and service facilities and coordinates installation through over 1,300 independent contractors across 17 states. ADG was formed in 2016 through the combination of Floors Inc. and Malibu Floors. The acquisition of Value Plus represents ADG’s sixth acquisition over the past thirteen months under Sterling’s ownership. The company has completed fourteen total acquisitions since its founding in 2016. ADG continues to seek local and regional market leaders to add to its family of flooring specialists.

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 56 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.0 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 28, 2020

Construction Supply Group, a Portfolio Company of The Sterling Group, Acquires Hub Construction Specialties

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 Hub Construction Specialties, Inc. (“Hub”). Operating 15 branch locations throughout California and Arizona, Hub is a construction supply and concrete accessory provider, serving customers for over 60 years.

Construction Supply Group is a leader in the distribution of specialty construction materials, accessories and tools, primarily for professional concrete and masonry contractors in the United States and Canada. The company has over 130 branches with approximately 2,000+ employees and offers over 60,000 SKUs to over 65,000 customers.

The partnership with Hub expands CSG’s footprint in California’s attractive Inland Empire. “Hub’s established presence in the industry and strong vendor relationships are a welcome addition to CSG’s overall efforts and will help provide a greater national reach,” said Mitch Williams, CEO of Construction Supply Group. “We are looking forward to partnering with the Hub team.”

The acquisition of Hub Construction Specialties is Construction Supply Group’s nineteenth acquisition since inception. The company will continue to seek growth opportunities to better serve its customers.

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 56 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.0 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

December 11, 2019

The Sterling Group Has Made an Investment in Bad Boy, Inc.

The Sterling Group, a Houston-based middle market private equity firm, today announced an investment in Bad Boy, Inc. (“Bad Boy”).

Headquartered in Batesville, Arkansas, Bad Boy is a leading manufacturer of high-performance zero-turn riding lawn mowers. Since its founding in 1998, Bad Boy has operated as a founder-owned business. Bad Boy enjoys a leading brand in the lawn care industry with its lineup of commercial-quality residential mowers and professional grade commercial mowers. Bad Boy sells its mowers across an expanding base of independent dealers and leading outdoor retailers.

“Phil and his team have built an incredible product and strong brand resulting in impressive growth over the last twenty years. We look forward to partnering with Phil and his team in supporting Bad Boy’s future growth as it continues to deliver leading residential and commercial mowers to its loyal customer base,” said Kent Wallace, a Partner at The Sterling Group.

“I am excited to partner with The Sterling Group, as we work together to drive Bad Boy’s continued growth,” said Phil Pulley, founder of Bad Boy.

Sterling has a long history of partnering with family and entrepreneur owners and their management teams to support the growth of their businesses.

Willkie Farr & Gallagher LLP acted as legal advisor to The Sterling Group. Stephens Inc. acted as financial advisor and Jones Day acted as legal advisor to Bad Boy, Inc.

 

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 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.0 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

November 11, 2019

Highline Aftermarket, a Portfolio Company of The Sterling Group, Acquires Camco Manufacturing’s Liquids Division

The Sterling Group, a Houston-based middle market private equity firm, announced that its portfolio company Highline Aftermarket (“Highline”) has completed the acquisition of Camco Manufacturing’s Liquids division (“Liquids”). Liquids is a leading nationwide manufacturer of windshield wash, RV antifreeze, and diesel exhaust fluid, including private label products, with plants in Leominster, MA, Reidsville, NC, Elkhart, IN, and Albany, OR. Longstanding Liquids employees are joining the Highline team to provide continuity for customers and to continue building world-class operations to support Highline’s growth.

Sterling’s simultaneous combination in April 2016 of family-owned DYK and corporate carve-out AAHC, since renamed Highline, created a strong new automotive aftermarket distribution platform. The subsequent acquisitions of Service Champ, Levin’s, and South/Win have increased channel and geographic penetration and further solidified Highline as a market leader. The addition of Liquids fortifies Highline’s position as the largest and most efficient nationwide network for producing and distributing selected liquids and chemicals for the automotive, RV, and marine markets. Highline continues to invest rapidly to expand its blending and filling capabilities, and the addition of these Liquids plants represents a substantial increase in capacity. Will DuBose, President of Manufacturing, will continue to lead Highline’s blending and filling business.

“Over 50 years, the Caine family has built a fantastic Liquids business at Camco, with a reputation for high-quality products and exceptional customer service,” says Darcy Curran, CEO of Highline Aftermarket. “We are excited to combine the strengths of the Liquids business with Highline’s seven plants and 14 distribution centers to better serve customers nationwide. This combination is a perfect strategic fit and enables Highline’s growth ambitions. I welcome Liquids employees and customers to Highline.”

Highline has more than doubled in size during its three-year partnership with Sterling and will continue to pursue both organic and acquisition-related growth strategies.

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 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.0 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

November 06, 2019

Time Manufacturing Company, a portfolio of The Sterling Group, Acquires Market-Leading Composite Service Body Manufacturer, BrandFX

The Sterling Group, a Houston-based middle market private equity firm, announced today that one of its portfolio companies, Time Manufacturing Company (“Time”), has completed the acquisition of BrandFX.

Headquartered in Waco, Texas, Time is a global designer, manufacturer, and distributor of vehicle-mounted aerial lifts primarily for the electric utility, telecom, infrastructure, and forestry end markets. Time goes to market via several industry-leading brands, including the Versalift line of aerial lifts and digger derricks, and the Aspen Aerials line of under-bridge inspection units.

Headquartered in Fort Worth, Texas, BrandFX is a market-leading manufacturer of advanced composite service bodies, line bodies, inserts, toppers and covers. Founded in 1984, BrandFX has served as a longstanding leader in the industry, with a reputation for quality, innovation, engineering and lightweight and durable line of products. “The addition of BrandFX’s complementary product line further enhances Time’s ability to offer our customers the most reliable equipment at the lowest true cost of ownership,” said Curt Howell, CEO of Time.

With the acquisition of BrandFX, Time Manufacturing Company will employ more than 1,400 associates at 25 locations worldwide. BrandFX is Time’s sixth acquisition in the last two years.

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 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.0 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

October 10, 2019

Artisan Design Group, a Portfolio Company of The Sterling Group, Completes the Acquisition of Dixie Carpet Installations

Artisan Design Group (“ADG”), a portfolio company of The Sterling Group, today announced the acquisition of Dixie Carpet Installations, Inc. (“Dixie” or the “Company”). ADG is a dealer of flooring products and services, providing design, procurement, installation and quality control of flooring and complementary products for homebuilders and multi-family developers.

Dixie is a leading provider of flooring installation and replacement services to existing and new-construction multi-family properties across Texas. The operational footprint of the company allows Dixie to serve customers in Houston, Austin, Dallas, San Antonio and Corpus Christi. The Dixie acquisition provides ADG with additional exposure to the flooring replacement or “relay” market in some of the fastest growing cities in the country.

“Artisan Design Group is excited to partner with Dixie Carpet Installations. We are confident that the Dixie team can build on its strong legacy of excellence and continue to grow beyond its current footprint. Dixie significantly expands our relay capabilities, allowing us to better serve our multi-family customers,” said Larry Barr and Wayne Joseph, Co-CEOs of ADG.

Headquartered in Southlake, Texas, ADG operates more than 70 distribution, design and service facilities and coordinates installation through over 1,300 independent contractors across 17 states. ADG was formed in 2016 through the combination of Floors Inc. and Malibu. The acquisition of Dixie represents ADG’s fifth acquisition over the past ten months under Sterling’s ownership. The company has completed thirteen total acquisitions since its founding in 2016. ADG continues to seek local and regional market leaders to add to its family of flooring specialists.

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 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $1.9 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

October 02, 2019

Construction Supply Group, a Portfolio Company of The Sterling Group, Acquires Construction Materials

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 Construction Materials. Operating 16 branches in the Southeastern United States, Construction Materials is a long-established wholesale distributor of specialty building products, primarily for concrete contractors.

Construction Supply Group is a leader in the distribution of specialty construction materials, accessories and tools, primarily for professional concrete and masonry contractors in the United States and Canada. The company holds the clear number two position in the industry and is five times larger than its next closest competitor. The company has over 125 branches with approximately 1,600 employees and offers over 60,000 SKUs to nearly 60,000 customers.

The partnership with Construction Materials expands CSG’s geographical presence in important MSAs such as Florida, Georgia, Alabama and Texas, and further enhances its ability to serve customers and partner with suppliers. “With its substantial regional scale and leading market position, the partnership with Construction Materials results in further geographical diversification,” said Mitch Williams, CEO of Construction Supply Group. “We are looking forward to continuing to build on the success and market leadership that Construction Materials has experienced to date.”

The acquisition of Construction Materials is Construction Supply’s nineteenth acquisition in three years. The company will continue to seek growth opportunities to better serve its customers.

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 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.0 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.