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News

June 15, 2020

The Sterling Group, an operationally focused middle market private equity firm, announced the closing of Sterling Group Partners V, LP (together with its parallel fund, “Fund V”). Fund V was oversubscribed and closed at its $2.0 billion hard cap in approximately four months.

The majority of Fund V’s capital was committed by returning investors. Sterling welcomes several new investors that expand the firm’s Limited Partner base in the United States, the Middle East and Asia. “The Sterling team is grateful for the continued support of our long term investing partners, particularly in the midst of an extremely difficult market environment,” said Franny Jones, Managing Director, Investor Relations. “The demand for Fund V is a result of Sterling’s hands-on, operational approach to transforming industrial businesses and our firm-wide commitment to continuous improvement in all aspects of our business.”

Consistent with Sterling’s successful history over four decades, Fund V will primarily target corporate carve-outs and family businesses. The firm emphasizes its operational approach in partnership with management teams to grow and improve its portfolio companies. Sterling’s partner group, including Greg Elliott, John Hawkins, Brian Henry, Scott MacLaren, Gary Rosenthal, Brad Staller, and Kent Wallace, have a collective 100-plus years working at Sterling.

Sterling’s previous fund closed in 2015 with $1.25 billion of investor commitments. Kirkland and Ellis served as legal counsel for Fund V. Sterling did not utilize a placement agent.

About The Sterling Group

Founded in 1982, The Sterling Group targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of its initial platform 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 $14 billion. Currently, Sterling has over $4 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.



News

December 19, 2019

The Sterling Group Announces Scott MacLaren has been Named Partner

The Sterling Group, a Houston-based middle market private equity firm, is pleased to announce that Scott MacLaren has been named Partner.

Scott joined The Sterling Group in 2014 from The Boston Consulting Group where he focused on operational improvement initiatives for industrial and energy companies. Prior to entering the private sector, Scott was a Ranger qualified officer in the United States Army where he led a scout platoon during the troop surge in Iraq, and later served as a company commander in charge of 120 personnel. Scott received a B.S. in Economics from the United States Military Academy at West Point and an MBA from the Wharton School.

Scott’s first investment at Sterling was American Bath Group, a turnaround effort and industry consolidation in the bathware manufacturing industry. Scott spent a year embedded at the company, using his experience leading teams and driving operational change to completely transform the company’s transportation and logistics program, as well as executing four strategic acquisitions. During his time at ABG, the Company experienced over 200% EBITDA growth. Since then, he has been instrumental in Sterling Group investments such as Highline, Evergreen, Lynx FBO, and Polychem.

“We are excited to have Scott join our partnership. His operational, commercial, and transactional capabilities underlie Scott’s strong contribution to Sterling, our portfolio companies, and our investors,” said Gary Rosenthal, a Partner at 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 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.

 



News

July 16, 2019

The Sterling Group Named in Inc’s List of The 50 Best Private Equity Firms for Entrepreneurs

Sterling was recently named on the Inc list of Top 50 Founder Friendly Private Equity firms. Sterling has been partnering with founders and entrepreneurs for 37 years.

Link to article: https://lnkd.in/gfA2QMp



News

February 05, 2019

The Sterling Group Announces Promotions

The Sterling Group, an operationally focused private equity firm based in Houston, Texas, announced the promotions of Scott MacLaren, Franny Jones, Max Klupchak, and Claudine Lussier.

Scott MacLaren has been promoted to Managing Director. Scott joined Sterling in 2014 from The Boston Consulting Group and has played an integral role on the deal teams of American Bath Group, Highline Aftermarket, Lynx FBO Network, and Evergreen North America. Scott spent a year embedded at American Bath Group where he successfully drove major transformation at the company.

Franny Jones has been promoted to Managing Director. Franny joined Sterling in 2010 to focus on the firm’s fundraising and investor relations efforts. With Franny’s leadership in this area, Sterling has further enhanced its fundraising capabilities and transparent communications with investors.

Max Klupchak has been promoted to General Counsel. Max joined Sterling in 2015 from Kirkland &Ellis LLP to oversee legal matters at the firm. Max has built out Sterling’s internal legal processes and has also had a meaningful impact advising Sterling’s portfolio companies.

Claudine Lussier has been promoted to Principal. Claudine joined Sterling in 2017 from Jacobs Engineering. In a short period of time, Claudine has driven improvements in all areas of Sterling’s talent development activities, both internally and at Sterling portfolio companies.

“We are thrilled to recognize these four outstanding contributors to The Sterling Group. Each shares a passion for building winning industrial businesses and a focus on continuous improvement,” said Brad Staller, a Partner at Sterling.

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.



News

April 12, 2017

Lynx FBO Network Appoints Scott Kelly and Dan Bucaro to the Board of Directors

Lynx FBO Network, a buy-and-build effort in the FBO (fixed base operator) industry, today announced the appointment of Scott Kelly, retired astronaut and US Navy captain, and Dan Bucaro, former CEO of Landmark Aviation, to its Board of Directors. In September 2016,The Sterling Group, a middle market private equity firm focused on industrial businesses, began executing a plan to build a leading FBO network providing general aviation services.  Lynx completed four acquisitions in the first four months of operations.

Scott Kelly is an astronaut and retired US Navy Captain who is a veteran of four space flights and commanded the International Space Station on three different expeditions. Dan Bucaro has been involved in the FBO industry for over 15 years, having built the Trajen, Encore and Landmark businesses. Dan was most recently CEO of Landmark Aviation, an FBO network with 70 locations that was sold by The Carlyle Group to BBA Aviation in February 2016.

“Scott will bring invaluable strategic and operational direction to the Board, and Dan brings unparalleled experience and success in the FBO industry,” said Greg Elliott, a Partner at The Sterling Group.“We are thrilled to be adding strength to the already deep team at Lynx.”

In addition, the company announced that Matt DeLellis joined as Chief Financial Officer and Leslie McIntyre joined as Executive Vice President of Human Resources. DeLellis was formerly the Senior Vice President for Strategy and Corporate Development and McIntyre was the Vice President of Human Resources, both at Landmark Aviation.

Sterling has assembled a strong and experienced team to build the new network. Greg Elliott, 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.  Chad Farischon and Tyson Goetz are former members of the Trajen, Atlantic Aviation, and Landmark Aviation management teams and have been involved with the purchase and integration of over 50 FBOs over the course of their careers. Lynx is the sole service provider at air fields near Destin, Florida; Portland, Oregon; and Minneapolis, Minnesota and is actively pursuing further acquisitions.

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 50 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.2 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.



News

July 27, 2015

The Sterling Group Hits $1.25 Billion Hard Cap For Its Fourth Private Equity Fund

The Sterling Group, a middle market private equity firm based in Houston, Texas, announced it has closed on $1.25 billion in investor commitments for its most recent fund, Sterling Group Partners IV (“Fund IV”). Fund IV was oversubscribed and reached its hard cap in three months. Consistent with Sterling’s successful 33-year history, Fund IV primarily will target corporate carve-outs and family businesses in the industrial sector of the middle market.

The substantial majority of Fund IV’s capital was committed by returning investors. Sterling welcomes a select number of new investors. “The Sterling team is pleased by the significant demand for Fund IV and the strength of our partnership with our investors,” said Kevin Garland, a Partner with The Sterling Group, “Sterling’s hands-on, operational approach to transforming industrial businesses has generated strong returns throughout a variety of market cycles. We intend to continue to execute and improve upon this strategy in Fund IV to produce top tier results for our investors.”

Sterling targets manufacturing, distribution and industrial service businesses generally with $100 million to $500 million in total enterprise value. The firm emphasizes its strong operational approach in partnership with management teams to grow and improve industrial businesses. Sterling’s partner group of Gary Rosenthal, John Hawkins, Kevin Garland, Greg Elliott, Kent Wallace and Brian Henry collectively has 90 years working at Sterling.

Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel. Sterling did not utilize a placement agent.

About The Sterling Group, L.P.

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 $500 million. Sterling has sponsored the buyout of 46 platform companies and numerous add-on acquisitions for a total transaction value in excess of $10.0 billion. Currently, Sterling has over $2.4 billion of assets under management.  Current portfolio companies include CST Industries, Universal Fiber Systems, Express, Saxco International, Liqui-Box, Dexter Axle, Safe Fleet, Specified Air Solutions, American Bath Group and ProcessBarron.

 

Past performance is no guarantee of future results and all investments are subject to loss.

 



News

November 14, 2011

Sterling Named to 2011 List of Top 20 Private Equity Firms

The 2011 HEC-DowJones Private Equity Performance Ranking lists the world’s Top PE firms in terms of aggregate performance based on all funds raised between 1998 and 2007. This ranking answers the question: “Which firm(s) generated the best performance for their investors over the past years?” The ranking draws on a comprehensive set of data on PE fund performance provided by DowJones and directly from PE Firms and uses a unique methodology to calculate the aggregate performance of a PE firm based on difference performance measures for all the funds managed by this firm. The method is able to aggregate performance across vintage years and considers relative and absolute returns. In total, we analyzed performance data from 427 PE firms and the 950 funds they raised between 1998 and 2007 with an aggregate equity volume of $1300bn.

Download the full article

  1. Waterland
  2. Friedman Fleischer & Lowe
  3. Platinum Equity
  4. Hellman & Friedman
  5. TPG
  6. Astorg
  7. PAI Partners
  8. Rhone Capital
  9. Nordic Capital
  10. Onex Corporation
  11. The Sterling Group
  12. Towerbrook Capital Partners
  13. GTCR Golder Rauner
  14. Axa Private Equity
  15. Gilde Buy Out Partners
  16. BC Partners
  17. Barclays Private Equity
  18. Bain Capital
  19. The Riverside Company
  20. Apollo Management

 

Disclaimer: The Sterling Group, L.P. has not sought to independently verify information obtained from the sources used by HEC-DowJones to compile the rankings contained in this article. In addition, the methodology used by HEC-DowJones is subject to inherent limitations due to the confidential nature of the private equity industry, different vintage years, strategies or investment objectives of private equity firms and different performance measures used by such firms. There may be certain other limitations in the comparison of The Sterling Group, L.P. with other private equity firms in the ranking, with respect to its performance that it may not be aware of. The Sterling Group, L.P. makes no representations or warranties as to accuracy, completeness or reliability of information contained in this article.



News

December 06, 2010

Sterling named as one of Top 20 General Partners of 2010 by Dow Jones Private Equity News

http://www.sterling-group.com/images_news/dow-jones-1012.pdf



News

March 16, 2010

The Sterling Group Closes $820 Million Fund III

The Sterling Group, L.P. a Houston based middle-market private equity firm focused on operational value creation, today announced the final closing of Sterling Group Partners III, L.P. (Fund III) at $820 million. Fund III, raised in 10 months and oversubscribed, closed significantly above its $600 million target. It is the successor to Sterling Group Partners II, L.P. (Fund II), a $470 million private equity fund organized in 2005. With the close of Fund III, Sterling has approximately $1.3 billion in committed capital under management.

As with previous funds, the objective of Fund III is to create superior returns by acquiring companies with significant opportunities to drive strategic and operational improvements in partnership with management. Fund III will focus on middle-market businesses in manufacturing, industrial service and distribution, typically with $100 million to $500 million in total enterprise value. The Fund will focus primarily on corporate carve outs, buy and builds, family-owned businesses and other complicated sale processes.

Lazard Freres acted as Sterling’s exclusive global placement agent for Fund III. Paul, Weiss, Rifkind, Wharton and Garrison LLP acted as legal counsel.

About The Sterling Group, L.P.
Founded in 1982, The Sterling Group is a Houston based private equity firm targeting controlling interests in basic manufacturing, industrial services, and distribution companies. Sterling emphasizes strategic and operational value creation in partnership with management. Typical enterprise values range from $100 to $500 million. Over its nearly 30 year history, Sterling has acquired 36 platform companies and numerous add-on acquisitions aggregating approximately $8.6 billion in transaction value. Currently, Sterling has $1.3 billion of committed capital under management.



News

May 25, 2005

The Sterling Group Closes $470 Million Private Equity Fund

The Sterling Group, L.P., a Houston-based private equity firm focused on acquiring North American middle-market manufacturing, industrial service and distribution companies, today announced the final close of Sterling Group Partners II, L.P. (“Fund II”), with aggregate capital commitments of $470 million, including $20 million from the Principals of Sterling. Additionally, The Sterling Group announced the addition of two new members to the Sterling team. Gary Rosenthal, a former Principal with Sterling from 1989 to 1990, has rejoined as a Principal, and Kelly Boots has been named Chief Financial Officer.

The Sterling Group founded more than 23 years ago, is one of the oldest private equity firms in the United States. Sterling’s six Partners – Chairman Frank Hevrdejs, Billy Oehmig, Hunter Nelson, John Hawkins, Kevin Garland and Gary Rosenthal – have over a combined 80 years of experience with The Sterling Group.

The firm will use Fund II to continue to execute its strategy of partnering with management teams to drive strategic, operational and financial improvements in its portfolio companies. Historically, this has often occurred in acquisitions of spin-outs of non-core divisions of large corporations and family-owned businesses as well as buy-and-build strategies in fragmented industries.

Limited partners in Fund II include a diverse group of pension plans, fund-of-funds, university endowments, financial institutions, foundations and individuals. Lazard Freres acted as Sterling’s exclusive global placement agent for Fund II, and Paul, Weiss, Rifkind, Wharton and Garrison LLP acted as legal counsel.

About The Sterling Group, L.P.
The Sterling Group, founded in 1982 by the late Gordon Cain and Frank Hevrdejs, is a Houston-based private equity firm focused on acquiring middle-market manufacturing, industrial services and distribution companies between $100 million and $500 million in enterprise value. In total, the firm has made 29 platform and numerous add-on acquisitions totaling over $7 billion in transaction value. For more information, visit www.sterling-group.com.