December 15, 2020
Lynx FBO Network (“Lynx”), a portfolio company of The Sterling Group, announced today it has acquired the FBO assets of Northstar Aviation at the Theodore Francis Green State Airport (PVD) in Providence, Rhode Island. The acquisition marks Lynx’s ninth FBO location.
“We are excited to further expand the Lynx FBO Network in the Northeast United States, and Providence will greatly enhance our East Coast presence. We look forward to working with the Rhode Island Airport Corporation, the local FBO team, and all stakeholders in continuing the great partnership Northstar Aviation has established over their tenure of over 30 years at the airport,” said Chad Farischon, President and Partner of Lynx.
“Providence is a strategic location for Lynx that has been a top priority target for years,” said Greg Elliott, a Partner at The Sterling Group. “Our team’s ability to get this across the finish line during COVID shows our commitment and ability to continue to expand our network in any environment.”
Lynx is a rapidly growing network of FBOs in the general aviation industry with locations in Napa, California, Destin, Florida, Minneapolis (Anoka), Minnesota, Portland (Aurora), Oregon, Little Rock, Arkansas, Pittsburgh, Pennsylvania, Fort Lauderdale, Florida, Morristown, New Jersey and now Providence, Rhode Island. 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. Honigman Miller Schwartz & Cohn LLP served as legal advisor to Lynx in the acquisition. Lynx and Sterling continue to actively seek FBO acquisitions in North America.
About The Sterling Group
Founded in 1982, The Sterling Group is a private equity and private credit investment firm that targets investments in basic manufacturing, distribution, and industrial services companies. Typical enterprise values of these companies at initial formation 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. Sterling currently 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.
September 29, 2020
Frontline Road Safety (“Frontline”), a portfolio company of The Sterling Group, today announced the acquisition of Griffin Pavement Striping (“Griffin”). Through its operating companies, Frontline provides pavement marking services to a variety of end markets and customers.
Based in Columbus, Ohio, Griffin is a leading provider of road, highway and airport line striping. “I am thrilled to partner with Sterling with the vision to build a leading national platform for road safety services,” said Joe Griffin. “Frontline’s current operating companies are led by among the strongest and most reputable teams in our industry, and the opportunity to work alongside them is the right next step for Griffin.” Mr. Griffin will continue to lead Griffin in his role as President.
“Griffin has been an established, leading service provider for its Ohio customers for the last forty years, and has a tremendous reputation as a top-tier operator. We look forward to further expanding the Frontline family of companies in partnership with Griffin,” 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 acquisitions, Sterling intends to build Frontline into the leading platform for road safety solutions providers 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.
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.
September 16, 2020
Highline Aftermarket, a portfolio company of The Sterling Group, announced that it has entered into an agreement to acquire the assets of Plews & Edelmann’s Retail segment (“Plews Retail”). Highline is a leading distributor of consumable branded and private label automotive chemicals, lubrication, filtration products, parts, tools and accessories with value-added capabilities in packaging and filling. Plews Retail is a leading designer and distributor of automotive and industrial tools and accessories, in categories like lubrication, air accessories, air hoses, and tire repair.
Well-known brands Amflo, Lubrimatic, and Tru-Flate will join Highline’s industry-leading stable of owned and licensed brands alongside Prime Guard, Service Champ, Rain-X, Shout, Windex, and others. These brands, products, and longstanding Plews Retail employees will join the Highline family and support its continued growth by leveraging trusted owned and licensed brands, 400-plus third-party national brands, extensive private-label capabilities, an unmatched sales team, and a national footprint with 15 distribution centers and eight manufacturing facilities.
“For more than 30 years, the Amflo, Lubrimatic, and Tru-Flate brands have been synonymous with quality across retail, industrial distribution, and the automotive aftermarket,” says Highline CEO Darcy Curran. “We’re excited to add the Plews Retail business to Highline’s growing national platform to better serve our customers together. This combination is a perfect strategic fit for Highline, and I welcome Plews Retail employees and customers to the Highline family.”
Plews Retail is Highline’s fifth acquisition since its formation in 2016. Highline has more than doubled in size during that time and will continue to pursue both organic and acquisition-related growth strategies.
About Highline Aftermarket
Headquartered in Memphis, TN, Highline Aftermarket is a leading national distributor of automotive products, with 15 distribution centers and eight state-of-the-art manufacturing facilities serving multiple channels across the aftermarket industry. With more than 500 employees, Highline serves as a critical link between manufacturers and customers, offering a robust portfolio of national brands, original-equipment replacement products, private-label goods, and in-house chemical blending and packaging. The #1 manufacturer of windshield wash in the U.S., Highline is part of The Sterling Group family of companies.
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.
August 31, 2020
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.
August 03, 2020
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.
March 23, 2020
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.
March 03, 2020
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.
January 28, 2020
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.
December 11, 2019
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.
November 11, 2019
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.
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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