March 02, 2021
Fencing Supply Group Completes Second Acquisition – Binford Supply
Binford Supply (“Binford”), a portfolio company of private equity firm Building Industry Partners, today announced its partnership with Fencing Supply Group (“FSG”), a group of industry-leading, fencing distributors. Binford, one of the fastest growing fencing distributors in the country, is a leader in the Texas, Oklahoma, and Colorado markets with 11 branches and 2 complementary manufacturing facilities.
Founded in 2021 by The Sterling Group, an operationally focused middle market private equity firm, FSG is the national leader in fencing supply distribution. FSG businesses serve professional fencing contractors who provide new, improvement, and repair fencing services across residential, industrial, commercial, and infrastructure end markets.
“Joining the FSG family of fencing distributors was the right next step for our entrepreneurial, customer-focused company,” Jeff Cook, President of Binford said. “We look forward to working towards the shared vision of growth in each of our businesses.”
“Binford is the perfect addition to FSG because of its strong brand, its legacy of wood fencing leadership, its customer service model, and its passionate and dedicated team members. We are very excited to have Jeff and the entire Binford team join the FSG family,” said Brian Henry, Partner at the Sterling Group.
Sterling has deep experience in the building products distribution industry, having previously partnered with entrepreneur owners to build Roofing Supply Group, Construction Supply Group, and Artisan Design Group. Fencing Supply Group and Sterling intend to continue to support the platform through organic growth initiatives as well as an active acquisition strategy. Binford is the second acquisition for the Fencing Supply platform. FSG acquired Merchants Metals on February 26, 2021.
About Fencing Supply Group
Founded in 2021, Fencing Supply Group (“FSG”) is a group of industry-leading, fencing distributors. FSG is the largest wholesale distributor of fencing supplies in the United States. FSG businesses serve professional fencing contractors who provide new, improvement, and repair fencing services across residential, industrial, commercial, and infrastructure end markets. The FSG model combines local relationships, service, and expertise with national scale and resources for the benefit of customers, employees, and suppliers. Current FSG companies include Merchants Metals and Binford Supply, which collectively operate 46 branches across 29 states.
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 58 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.
March 01, 2021
Fencing Supply Group Completes First Acquisition – Merchants Metals
The Sterling Group, an operationally focused middle market private equity firm, today announced the formation of Fencing Supply Group (“FSG”), a new platform focused on building a group of industry-leading, independent fencing distributors. FSG businesses serve professional fencing contractors who provide new, improvement, and repair fencing services across residential, industrial, commercial, and infrastructure end markets.
Fencing Supply Group is pleased to announce the acquisition of Merchants Metals (“Merchants”) effective on February 26. Merchants is the first acquisition of the FSG platform. Merchants is a leading national value-added distributor of fence supplies in the U.S., serving customers through 35 branches and 4 complementary manufacturing facilities across 28 states.
“Merchants is a nationally recognized leader in fencing today and we are excited about partnering with Andrea Hogan and the entire Merchants team to support them in continuing to grow the Merchants business,” said Brian Henry, Partner at The Sterling Group.
“Fencing Supply Group is a platform that will promote and enable growth for independent distributors of fencing materials nationwide. I look forward to being a part of the leading network of fencing distributors led by industry experts and entrepreneurs who come together to create value for customers, employees, and suppliers,” said Andrea Hogan, CEO of Merchants.
Sterling has deep experience in the building products distribution industry, having previously partnered with entrepreneur owners to build Roofing Supply Group, Construction Supply Group, and Artisan Design Group. Fencing Supply Group and Sterling intend to continue to support the platform through organic growth initiatives as well as an active acquisition strategy.
About Fencing Supply Group
Founded in 2021, Fencing Supply Group (“FSG”) is a group of industry-leading, independent fencing distributors. FSG businesses serve professional fencing contractors who provide new, improvement, and repair fencing services across residential, industrial, commercial, and infrastructure end markets. The FSG model combines local relationships, service, and expertise with national scale and resources for the benefit of customers, employees, and suppliers.
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 58 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.
February 15, 2021
Time Manufacturing Company (“Time”), a portfolio company of The Sterling Group, has completed its acquisition of Ruthmann, a European manufacturer of aerial work platforms. Time is a global manufacturer of aerial lifts primarily for the electric utility, telecommunications, infrastructure, and forestry sectors. Time goes to market via several brands, including Versalift, Aspen Aerials and BrandFX. Headquartered in Gescher-Hochmoor, Germany, Ruthmann has a long history of manufacturing high-quality, truck-mounted aerial work platforms in Europe, going to market under the brands Ruthmann, Steiger, Ecoline, and Bluelift.
“Ruthmann brands stand for quality and reliability, and we are delighted to partner with Ruthmann to grow our respective businesses together,” said Curt Howell, CEO of Time Manufacturing Company. “Together, Time and Ruthmann offer complementary products and services which allow both companies to better serve and to meet the demands of our global customers.”
“This acquisition brings together two complementary work truck and high access equipment manufacturers, expanding our product offerings, and better serving our customers,” said Rolf Kulawik, Managing Director of Ruthmann. “We look forward to partnering with the Time team to realize the many opportunities that the combination offers both employees and customers alike.”
The acquisition of Ruthmann is a significant step forward for Time Manufacturing Company in developing a robust product line that supports the many specialized access needs of telecommunications, electric utility and other essential end customers around the world. Time has international operations which represents a remarkable opportunity to expand and promote Ruthmann brands to a broader global audience.
Ruthmann is the eighth acquisition Time Manufacturing Company has completed under The Sterling Group’s ownership.
About Time Manufacturing Company
Time Manufacturing Company is a global manufacturer of bucket trucks, digger derricks, cable placers, truck bodies, buckets, and other specialty equipment for electric utility, telecommunications, bridge inspection, tree care and other fleet-supported industries. Through Versalift, BrandFX and Aspen Aerials brands, the company provides equipment to co-ops, municipalities, government agencies and corporations through its global network of facilities and distributors. Time Manufacturing Company employs more than 1,600 associates worldwide.
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.
January 06, 2021
Artisan Design Group (“ADG”), a portfolio company of The Sterling Group, announced the acquisition of substantially all assets of Nonn’s Flooring Inc. 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.
Headquartered in Middleton, Wisconsin, Nonn’s is a leading provider of installation services for flooring, countertops, cabinets, and appliances primarily to single-family residential homebuilders in Wisconsin and Florida. Nonn’s has provided high quality single-family installation services in Wisconsin for over 36 years.
“We are excited to expand our footprint into Wisconsin and to partner with the current management team and owner, whom we have known for a long time, to solidify our position as the leading turnkey supplier of interior surfaces to single-family and multi-family homebuilders as well as property managers throughout the U.S.,” said Larry Barr and Wayne Joseph, Co-CEOs of ADG. “The acquisition of Nonn’s brings us some very talented employees, a large established customer base, as well as a beachhead for additional growth in the Midwest.”
“We view this partnership with ADG as a win for both our customers and our employees,” said Adam Nonn, CEO and President of Nonn’s Flooring, Inc. “ADG’s entrepreneurial approach was a perfect fit for us, and their capabilities and technology will help our team continue to deliver on our customer promise to provide best-in-class installation services for flooring and related products.”
Headquartered in Dallas, Texas, ADG operates more than 100 distribution, design and service facilities and coordinates installation through over 1,800 independent contractors across 23 states. ADG was formed in 2016 through the combination of Floors Inc. and Malibu Floors. ADG has completed eight acquisitions over the past two years under Sterling’s ownership. The company has completed sixteen total acquisitions since its founding in 2016. ADG continues to seek local and regional market leaders to add to its family of flooring, cabinets and countertops specialists.
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.
January 06, 2021
Time Manufacturing Company (“Time”), a portfolio company of The Sterling Group, has agreed to acquire Ruthmann, a manufacturer of aerial work platforms based in Germany. Time is a global designer, manufacturer, and distributor of aerial lifts primarily for the electric utility, telecommunications, infrastructure, and forestry sectors. Time goes to market via several brands, including the Versalift line of aerial lifts and digger derricks, the Aspen Aerials line of under-bridge inspection units, and the BrandFX line of fiberglass truck bodies.
Headquartered in Gescher-Hochmoor, Germany, Ruthmann has a long history of manufacturing high-quality, truck-mounted aerial work platforms in Europe, going to market under the brands Ruthmann, Steiger, Ecoline, and Bluelift.
The transaction is subject to regulatory clearance and is expected to close in Q1 2021.
About Time Manufacturing Company
Time Manufacturing Company is a global manufacturer of bucket trucks, digger derricks, cable placers, truck bodies, buckets, and other specialty equipment for electric utility, telecommunications, bridge inspection, tree care and other fleet-supported industries. Through Versalift, BrandFX and Aspen Aerials brands, the company provides equipment to co-ops, municipalities, government agencies and corporations through its global network of facilities and distributors. Time Manufacturing Company employs more than 1,100 associates worldwide.
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.
January 04, 2021
Artisan Design Group (“ADG”), a portfolio company of The Sterling Group, today announced the acquisition of Pacific Carpets, LLL (“Pacific Carpets”). 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.
Pacific Carpets, headquartered in Huntington Beach, California, is a leading turnkey supplier of carpet, hardwood, tile, countertops, luxury vinyl tile and other floor covering and surface solutions. “We look forward to further expanding our presence in California, particularly in the multi-family and commercial markets,” said Larry Barr and Wayne Joseph, Co-CEOs of ADG.
Headquartered in Dallas, Texas, ADG operates more than 90 distribution, design and service facilities and coordinates installation through over 1,550 independent contractors across 22 states. ADG was formed in 2016 through the combination of Floors Inc. and Malibu Floors. ADG has completed seven acquisitions over the past two years under Sterling’s ownership. The company has completed fifteen 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 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.
January 04, 2021
Frontline Road Safety, a portfolio company of The Sterling Group (“Sterling”), today announced the acquisition of Hi-Lite Airfield Services and the hiring of CEO Tony G. Plut. Through its operating companies, Frontline provides pavement marking services to a variety of end markets and customers.
The Hi-Lite transaction marks Frontline’s fourth acquisition since the platform was established in July 2020. Headquartered in Watertown, NY and Bradenton, FL, Hi-Lite is the largest airfield-focused pavement marking contractor in North America. The company performs airfield marking and rubber removal services throughout the United States, Puerto Rico, Canada and the Caribbean.
“Hi-Lite is a best-in-class operator, and a perfect fit within the expanding Frontline family of companies,” said Brad Staller, Partner at The Sterling Group. “The Frontline and Hi-Lite missions are completely aligned, and we look forward to working together to continue to provide the highest quality solutions to our customers,” said Chris Miller, President of Hi-Lite.
Brad Staller added, “We believe the addition of Tony to lead Frontline as CEO will further strengthen our ability to deliver superior execution and service for our customers on a local level, as well as continue to grow our footprint nationally.”
“I am thrilled to work alongside Sterling with the shared vision of building a national leader in the road safety industry and am excited by what this latest acquisition brings to our platform,” said Tony G. Plut, CEO of Frontline.
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 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.
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.
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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