News

Acquisition

June 05, 2019

Artisan Design Group, a Portfolio Company of The Sterling Group, Completes the Acquisition of Heritage Carpet & Tile

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

Heritage is a leading provider of design center and installation services for flooring and complimentary products such as shower enclosures, mirrors and window treatments in Southern Florida. For over 30 years, Heritage has been offering exceptional customer service and reliable installation to its homebuilder customers. The Company is headquartered in Boynton Beach, Florida and has further locations in Fort Pierce, Naples and Sarasota. “We are very pleased to be teaming up with ADG. Their broad reach and experience across a variety of product categories will support us in continuing our strong growth. Furthermore, as a family business, we were also looking for a partner with the right cultural fit that will allow us to continue our focus on local customer service and execution,” said Randy Smith CEO and President of Heritage.

“We are excited to welcome Heritage Carpet & Tile to Artisan Design Group. We continuously strive to enhance our capabilities to better serve our customers, and through Heritage we will expand our geographic footprint to the important Florida market. The Heritage team has built an impressive company and we are proud to be partnering with them,” said Larry Barr and Wayne Joseph, Co-CEOs of ADG.

Headquartered in Southlake, Texas, ADG operates more than 65 distribution, design and service facilities and coordinates installation through over 1,250 independent contractors across 17 states. ADG was formed in 2016 through the combination of Floors Inc. and Malibu. The acquisition of the Heritage represents ADG’s fourth acquisition over the past six months under Sterling’s ownership. The company has completed twelve total acquisitions in the past two years. 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 $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

May 07, 2019

Construction Supply Group, a Portfolio Company of The Sterling Group, Completes Three Acquisitions

The Sterling Group, a Houston-based middle market private equity firm, announced that its portfolio company, Construction Supply Group (“CSG”), has completed the acquisitions of Best Materials, Advantage Construction Supply and Spec-West Concrete Systems. Best Materials is a construction supply e-commerce platform based in Phoenix, Arizona. Advantage and Spec-West are concrete and construction supply providers with a combined four branches in California.

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 four times larger than its next closest competitor.  The company has over 100 branches with over 1,300 employees and offers over 60,000 SKUs to nearly 50,000 customers.

With these additions, Construction Supply Group will have the leading market position in the Sacramento, California market and will have a further enhanced e-commerce capability. The three acquisitions result in a total of sixteen regional businesses acquired under Sterling’s ownership.

“We’re looking forward to drawing on the unique strengths of these three organizations as we continue to build Construction Supply Group towards our vision serving as North America’s leading construction supply distributor,” said Mitch Williams, CEO of Construction Supply Group. “This is a great opportunity to further strengthen existing market positions and add capabilities to better serve our customers.” Construction Supply Group will continue to seek further additions to its family of specialty construction supply 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 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $1.8 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

May 03, 2019

Artisan Design Group, a Portfolio Company of The Sterling Group, Completes the Acquisition of Vintage Design and Nu Wood Design

Artisan Design Group (“ADG”), a portfolio company of The Sterling Group, today announced the acquisition of Vintage Design, LLC (“Vintage Design”) and Nu Wood Design, LLC (“Nu Wood”) (collectively, the “Companies”).  ADG is a dealer of flooring products and services, providing design, procurement, installation and quality control of flooring and complimentary products for homebuilders and multi-family developers.

Vintage Design is a leading provider of design and installation services for flooring products in the California market. Nu Wood is a full service manufacturer and installer of cabinetry which primarily serves Vintage Design’s single family homebuilder customers. The Companies are based in Lake Forest, CA. “As a family-owned business, we wanted to find a trusted partner who could support us in our continued strong growth and focus on serving our customers,” said Tim Buckley, CEO of Vintage Design and Nu Wood. “Working with ADG is the perfect next step for our customers, our employees and our family.”

“We are excited to be partnering with Vintage Design and Nu Wood. Tim and his team have built two great companies, each with an outstanding culture and a reputation for providing excellent service, a perfect fit with Artisan Design Group. We look forward to the many benefits each of our respective businesses will enjoy from being partners,” said Larry Barr and Wayne Joseph, Co-CEOs of ADG.

Headquartered in Southlake, Texas, ADG operates more than 50 distribution, design and service facilities and coordinates installation through over 1,250 independent contractors across 16 states. ADG was formed in 2016 through the combination of Floors Inc. and Malibu. The acquisition of the Companies represents ADG’s eleventh acquisition in the past two years. The company 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

April 04, 2019

Artisan Design Group, a Portfolio Company of The Sterling Group, Completes the Acquisition of Markraft Cabinets

Artisan Design Group (“ADG”), a portfolio company of The Sterling Group, today announced the acquisition of Markraft Cabinets, LLC (“Markraft Cabinets”).  ADG is a dealer of flooring products and services, providing design, procurement, installation and quality control of flooring and complimentary products for homebuilders.

Headquartered in Wilmington, North Carolina, Markraft Cabinets is a leading provider of design and installation services for cabinetry and countertops in North Carolina, South Carolina and Tennessee. “We are excited to join the ADG family of companies because of our shared entrepreneurial cultures and focus on providing excellent selection and service to customers,” said Joe Jacobus, CEO of Markraft Cabinets.

“We see this expansion into cabinets and countertops, and in particular in the Carolinas and Tennessee, as an integral part of the growing ADG platform. Joe and the Markraft Cabinets team have grown the company into a clear leader in its markets, and we look forward to the many benefits each of our respective businesses will enjoy from being partners,” said Larry Barr and Wayne Joseph, Co-CEOs of ADG.

Headquartered in Southlake, Texas, ADG operates more than 40 distribution, design and service facilities and coordinates installation through over 1,000 independent contractors across 15 states. ADG was formed in 2016 through the combination of Floors Inc. and Malibu. The acquisition of Markraft Cabinets represents ADG’s tenth acquisition in the past two years. The company 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

March 15, 2019

The Sterling Group Completes the Acquisition of Polychem Corporation

The Sterling Group, an operationally focused middle market private equity firm, today announced the acquisition of Polychem Corporation.  Polychem is a leading manufacturer of polyester (“PET”) and polypropylene strapping in the North American securement packaging industry.  The company manufactures polyester (“PET”) and polypropylene strapping consumables, securement equipment and related products, serving the food and beverage, consumer packaged goods, and industrial industries.

Headquartered in Mentor, Ohio, Polychem has operated as a family business since the 1980s. Polychem is vertically integrated, operating a PET recycling facility which processes bales of post-consumer PET, converting them for use in Polychem’s strapping extrusion lines and for external sale to consumer packaged goods companies. Polychem also manufactures and sells a variety of securement packaging equipment to complement its consumable offering.

“We look forward to working with Polychem to continue to build on the company’s long history of successfully serving customers with quality products and innovative securement solutions,” said Gary Rosenthal, a Partner at The Sterling Group.

The Sterling Group has extensive experience in the packaging sector, including previous investments in Liqui-Box, Exopack and Saxco.

 

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

March 04, 2019

Artisan Design Group, a Portfolio Company of The Sterling Group, Completes the Acquisition of Builders Wholesale Flooring

Artisan Design Group (“ADG”), a portfolio company of The Sterling Group, today announced the acquisition of Builders Wholesale Flooring (“Builders Wholesale” or the “Company”).  ADG is a dealer of flooring products and services, providing design, procurement, installation and quality control of flooring and complimentary products for homebuilders.

Headquartered in Columbia, South Carolina, Builders Wholesale is the leading provider of flooring products and services in the Carolinas region. “We decided to join the ADG family because of our shared values which center on a commitment to providing customers with best in class flooring selections and service,” said Wayne Martin, President of Builders Wholesale.

“Wayne and the Builders Wholesale team have grown Builders Wholesale into a clear leader in its markets with an entrepreneurial culture and a reputation for excellence, a perfect fit with Artisan Design Group. We welcome Builders Wholesale to the ADG family and look forward to the many benefits each of our respective businesses will enjoy from being partners,” said Larry Barr and Wayne Joseph, Co-CEOs of ADG.

Headquartered in Southlake, Texas, ADG operates more than 40 distribution, design and service facilities and coordinates installation through over 800 independent contractors across 13 states. ADG was formed in 2016 through the combination of Floors Inc. and Malibu. The acquisition of Builders Wholesale represents ADG’s ninth acquisition in the past two years. The Company 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 54 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

February 04, 2019

Lynx FBO Network, A Portfolio Company of The Sterling Group, Acquires Fort Lauderdale FBO

Lynx FBO Network (Lynx), a portfolio company of The Sterling Group, announced today it has acquired the FBO assets of World Jet, Inc. at Fort Lauderdale Executive Airport (FXE) in Fort Lauderdale, Florida.  The acquisition will mark Lynx’s seventh FBO location.

“We see this expansion into the Florida market, and in particular South Florida, as an integral part of our growing network of FBOs.  Lynx looks forward to working with the Fort Lauderdale Executive Airport, the city of Fort Lauderdale and the local FBO team to deliver a best-in-class service offering for our customers in the South Florida region,” said Chad Farischon, President & Partner with Lynx.

In the coming months, Lynx will be making significant investments in the newly acquired facility, including a refresh of the facility grounds and the design and development of a new FBO terminal.

Lynx is a rapidly growing network of FBOs in the general aviation industry with locations in Destin, Florida, Minneapolis (Anoka), Minnesota, Portland (Aurora), Oregon, Little Rock, Arkansas, Napa, California, Pittsburgh, Pennsylvania and now Fort Lauderdale, Florida.  The Lynx vision is to build a values-based FBO network known for exceptional service and quality, a rewarding team member experience, and a commitment to continuing excellence.  The Lynx team is comprised of industry veterans who have worked together building FBO networks over many years, serving in management roles at numerous large FBO networks including Landmark Aviation, Atlantic Aviation and Trajen. Lynx and Sterling continue to actively seek FBO acquisitions in North America.

Honigman Miller Schwartz & Cohn LLP served as legal advisor to Lynx in the acquisition.

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 54 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

December 14, 2018

The Sterling Group Completes the Acquisition of Artisan Design Group

The Sterling Group, an operationally focused middle market private equity firm, today announced the acquisition of Artisan Design Group (“ADG”).  ADG is a dealer of flooring products and services, providing design, procurement, installation and quality control of flooring and complimentary products for homebuilders.

Headquartered, in Southlake, Texas, ADG operates 39 distribution, design and service facilities and coordinates installation through over 800 independent contractors across 13 states. The business was formed in 2016 through the combination of Floors Inc. and Malibu. ADG has completed 8 other acquisitions since that time, bringing together many of the leading regional flooring specialists across the United States.  “In a short period of time, Larry Barr and Wayne Joseph have built an industry leading flooring specialist with significant scale,” said Kent Wallace, a Partner at The Sterling Group. “We look forward to supporting their continued expansion both organically and through further acquisitions.”

“Sterling’s partnership means we can continue to recruit other industry leaders to join ADG to provide excellent products and services to an expanded client base across the country,” said Larry Barr, Co-CEO of ADG.

“Sterling’s experience investing alongside entrepreneurs to grow their businesses will benefit ADG as we continue to expand in the years to come,” said Wayne Joseph, Co-CEO of ADG.

The Sterling Group has a long history of partnering with entrepreneurs, particularly in the building products sector, including investments in Roofing Supply Group, American Bath Group, and Construction Supply 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 54 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $1.8 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 03, 2018

Construction Supply Group, a Portfolio Company of The Sterling Group, Completes Three Acquisitions

Construction Supply Group (“CSG”) has completed the simultaneous acquisitions of All-Tex Supply, MASONPRO, Inc. and Titan Construction Supply. 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 nearly 100 branches with over 1,350 employees and offers over 60,000 SKUs to more than 50,000 customers.

In the past two years, Construction Supply Group has brought together thirteen businesses to form the second largest specialty construction supply distributor in North America. The Sterling Group, an operationally focused private equity firm, partnered with management in late 2016 to build a new national leader.

The additions of All-Tex, MASONPRO and Titan will result in an expanded presence in the Texas, Oklahoma, Michigan, and Nevada markets, as well as an increased product offering within masonry specialty materials. “Today’s acquisitions further demonstrate CSG’s commitment to providing our customer base with industry leading products and service,” said Mitch Williams, CEO of Construction Supply Group.

“We look forward to partnering with Royce Farris and Don Tice from All-Tex, Jeff Snyder from MASONPRO and Mike Harmon from Titan,” said Brian Henry, a Partner at The Sterling Group. “We have been fortunate to bring together some of the best talent in the industry over the past two years, resulting in a stronger platform that can benefit from leveraging each other’s talents.”

Construction Supply Group continues to seek local and regional market leaders to add to its family of specialty construction supply 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 $1.8 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 01, 2018

Lynx FBO Network, a Portfolio Company of The Sterling Group, Acquires Voyager Jet Center’s Pittsburgh FBO

Lynx FBO Network (“Lynx”), a portfolio company of The Sterling Group, announced today that it has completed the acquisition of the FBO assets of Voyager Jet Center (“Voyager Jet”) at Allegheny County Airport (“AGC”) in Pittsburgh, Pennsylvania. The acquisition of Voyager Jet marks Lynx’s sixth FBO location and third FBO acquired this year.

“We believe the Pittsburgh market, and its rise as a global innovation city, is a perfect complement to our growing network of FBOs and we look forward to working with the Allegheny County Airport Authority (ACAA), Voyager Jet and the local FBO team to deliver a best-in-class service offering for our customers in the Mid-Atlantic region,” said Matt DeLellis, Chief Financial Officer with Lynx.

Lynx is a rapidly growing network of FBOs in the general aviation industry with locations in Destin, Florida, Minneapolis (Anoka), Minnesota, Portland (Aurora), Oregon, Little Rock, Arkansas, Napa, California and now Pittsburgh, Pennsylvania.  The Lynx vision is to build a values-based FBO network known for exceptional service and quality, a rewarding team member experience, and a commitment to continuing excellence.  The Lynx team is comprised of industry veterans who have worked together building FBO networks over many years, serving in management roles at numerous large FBO networks including Landmark Aviation, Atlantic Aviation and Trajen.  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.  Lynx and Sterling continue to actively seek FBO acquisitions in North America.

Terms of the transaction were not disclosed. Honigman Miller Schwartz & Cohn LLP served as legal advisor to Lynx.

 

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 over 52 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.