Nashville, TN September 03, 2026
Pavement Preservation Group, Inc. (“PPG”), a portfolio company of The Sterling Group (“Sterling”), today announced the appointment of Barnes Barton as Chief Executive Officer following Darin Matson’s planned retirement effective September 1, 2026.
Mr. Barton brings more than two decades of executive leadership experience to the PPG platform, including sixteen years in the construction materials sector at CRH. He most recently served as President of the South Division, CRH Americas Materials and previously held various business leadership roles at the company. Additionally, Mr. Barton served on the board of Sterling’s Frontline Road Safety investment from 2023 through Sterling’s sale of the company to Bain Capital in 2025, and, since 2024, serves on the board of the National Asphalt Pavement Association.
“We’re excited to partner with Barnes again as PPG enters its next chapter of growth. His operating track record and experience leading regional platforms — combined with the trust we built working together at Frontline — give us confidence in PPG’s continued strong trajectory,” said Brad Staller, Partner at The Sterling Group. “And as we welcome Barnes, we say ‘thank you’ to Darin, who came out of retirement nearly two years ago to lead the newly-established PPG platform. We are deeply grateful for his leadership over this formative period and wish him and his family all the best moving forward.”
“I am thrilled to join PPG at such an exciting moment in the company’s evolution. I look forward to working alongside PPG’s talented team to build on the strong foundation already in place and deliver even greater value to our customers and partners,” said Barnes Barton, Chief Executive Officer of PPG.
PPG provides specialized pavement preservation products and services that help extend the useful life of asphalt infrastructure through cost-effective solutions. Through continued organic growth and disciplined acquisitions, Sterling and PPG intend to further scale the platform, deliver even greater value to customers, and strengthen PPG’s position as a leading national provider of pavement preservation solutions with strong local execution capabilities.
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 $1 billion. Sterling has sponsored the buyout of 78 platform companies and numerous add-on acquisitions for a total transaction value of over $25 billion. Sterling currently has approximately $9.0 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. Forward-looking statements reflect current intentions only and are subject to change without notice. No assurance can be given that the objectives or results described herein will be achieved.
Houston, TX July 31, 2026
The Sterling Group (“Sterling”), a middle market private equity firm, today announced it has completed the previously announced sale of Tangent Technologies (“Tangent”) to Platinum Equity. Financial terms of the transaction were not disclosed.
Headquartered in Aurora, Illinois, Tangent is a leading manufacturer of high-performance synthetic materials used for outdoor living, site amenities, structural applications and marine decking. In recent years, these premium materials have become a leading substitute for traditional building materials given their durability, low maintenance, and aesthetics. Tangent manufactures its products using a combination of post-consumer and post-industrial recycled feedstock.
In 2018, Sterling partnered with Tangent’s founders to build on the company’s successful track record of innovation and exceptional customer service in the synthetic materials industry. Sterling’s experience partnering with family sellers and history of sharing economics with employees were important factors in the partnership with Tangent. During Sterling’s ownership, Tangent expanded to serve new customers and new end markets, more than tripling in size.
Moelis and Lincoln served as financial advisors and McDermott Will & Schulte served as legal advisor to Tangent.
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 $1 billion. Sterling has sponsored the buyout of 78 platform companies and numerous add-on acquisitions for a total transaction value of over $27 billion. Sterling currently has approximately $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.
Houston, TX June 23, 2026
The Sterling Group (“Sterling”), a middle market private equity firm, today announced it has entered into a definitive agreement to sell Tangent Technologies (“Tangent”) to Platinum Equity. Financial terms of the transaction were not disclosed. The transaction is expected to close in the third quarter of 2026.
Headquartered in Aurora, Illinois, Tangent is a leading manufacturer of high-performance synthetic materials used for outdoor living, site amenities, structural applications and marine decking. In recent years, these premium materials have become a leading substitute for traditional building materials given their durability, low maintenance, and aesthetics. Tangent manufactures its products using a combination of post-consumer and post-industrial recycled feedstock.
In 2018, Sterling partnered with Tangent’s founders to build on the company’s successful track record of innovation and exceptional customer service in the synthetic materials industry. Sterling’s experience partnering with family sellers and history of sharing economics with employees were important factors in the partnership with Tangent. During Sterling’s ownership, Tangent expanded to serve new customers and new end markets, more than tripling in size. John Griffin, Sterling Partner, spent a year embedded in the business to assist the management team with these growth initiatives.
“Sterling is grateful for the trust founders Guy DeFeo, Andy Stephens, and Pancho Morales placed in us when choosing Sterling as a partner,” said John Griffin. “I am confident Tangent’s exceptional management team, led by CEO Kevin Potthoff and President/CFO Brad Huffman, will achieve even greater milestones in the next phase of growth in partnership with Platinum.”
Moelis and Lincoln served as financial advisors and McDermott Will & Schulte served as legal advisor to Tangent.
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 $1 billion. Sterling has sponsored the buyout of 78 platform companies and numerous add-on acquisitions for a total transaction value of over $27 billion. Sterling currently has approximately $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.
Houston, TX May 21, 2026
The Scruggs Companies (“Scruggs”), consisting of The Scruggs Company and Neil Technical Services, today announced the appointment of Greg Rogowski to its Board of Directors. Scruggs is a provider of critical products and services to the municipal water and wastewater industry.
Mr. Rogowski brings more than three decades of executive leadership experience across the water infrastructure, industrial, and engineered materials sectors. He most recently served as Executive Vice President of Mueller Water Products, Inc. from 2018 to 2020 and President of Mueller Co. from 2009 to 2017, where he led the company’s core operating division focused on water distribution infrastructure, and oversaw sales and marketing. Earlier in his career, Mr. Rogowski served as President & CEO of Performance Fibers and held general management and global marketing leadership positions at Honeywell / AlliedSignal across engineered materials businesses.
“Greg’s appointment to the Scruggs Board reflects our focus on surrounding the company with operators who have scaled leading businesses in the water infrastructure ecosystem,” said Dan Myers, President of Scruggs. “His relationships across the OEM and distribution landscape, combined with his commercial and operational track record, will be invaluable as we work to further grow Scruggs.”
“Scruggs has built a strong reputation as a trusted partner to municipalities and OEMs across a large and growing market,” said Greg Rogowski. “I see tremendous opportunity to deepen the company’s OEM relationships, expand its service capabilities, and pursue strategic growth in attractive geographies. I look forward to working with the Scruggs team to realize that potential.”
About The Scruggs Companies
Headquartered in Houston, Texas, The Scruggs Companies provides essential flow control products – spanning valves, actuators, and automation components – and repair and maintenance services for water and wastewater infrastructure across Texas, Oklahoma, Kansas, Missouri, and Arkansas. Through its differentiated product and service offering, Scruggs supports municipal water and wastewater customers through the lifecycle of construction, expansion, and ongoing maintenance of essential water infrastructure. Scruggs is a portfolio company of The Sterling Group Foundation Fund. For further information, please visit https://www.scruggsco.com/ and https://ntshouston.com/.
Past performance is no guarantee of future results and all investments are subject to loss.
Nashville, TN May 19, 2026
Pavement Preservation Group, Inc. (“PPG”), a portfolio company of The Sterling Group (“Sterling”), today announced the acquisition of Asphalt Paving Systems, Inc. and its related pavement preservation affiliates (collectively “APS”), a leading vertically integrated pavement preservation contractor and manufacturer of asphalt and emulsion products.
PPG provides specialized pavement preservation products and services that help extend the useful life of asphalt infrastructure through cost-effective solutions. The addition of APS marks PPG’s fifth acquisition since the platform was formed in partnership with Sterling in 2024 and represents a transformational step forward in PPG’s journey towards building a leading national pavement preservation platform.
Founded in 1985 and headquartered in Hammonton, New Jersey, APS is a pavement preservation contractor serving state, county, and municipal customers across the Eastern and Southeastern United States. The company provides a range of services, including microsurfacing, chip seal, paving, and related solutions, and manufactures asphalt and emulsion products.
“Joining PPG achieves our vision of positioning APS with a national platform in the pavement preservation space,” said Bob Capoferri, Founder and CEO of APS, and Ken Messina, President of APS. “We are proud of what our team has accomplished over the last four decades and are excited about our future with PPG. Together, we intend to continue delivering top-notch pavement preservation solutions to our existing customers, while bringing that same high-quality level of service to new markets.”
“APS is a highly-respected provider in the pavement preservation industry with an exceptional track record of growth, operational excellence, and customer service,” said Darin Matson, CEO of PPG. “We are excited to partner with the APS team as we continue building a leading national pavement preservation platform comprised of operationally excellent companies.”
Sterling has a long history of partnering with entrepreneurs and management teams to build market-leading businesses. Through continued organic growth and disciplined acquisitions, Sterling and PPG intend to further scale the platform, deliver even greater value to customers, and strengthen PPG’s position as a leading national provider of pavement preservation solutions with strong local execution capabilities.
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 $1 billion. Sterling has sponsored the buyout of 78 platform companies and numerous add-on acquisitions for a total transaction value of over $25 billion. Sterling currently has approximately $9.0 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. Forward-looking statements reflect current intentions only and are subject to change without notice. No assurance can be given that the objectives or results described herein will be achieved.
St. Charles, IL May 05, 2026
Healthcare Linen Services Group (“HLSG”), a portfolio company of The Sterling Group (“Sterling”), today announced the acquisition of Texas Textile Services (“TTS” or “the Company”). HLSG is a provider of mission-critical outsourced linen laundry and management services to healthcare institutions.
Texas Textile Services, headquartered in Houston, Texas, is a regional provider of healthcare linen and laundry services serving hospitals and medical facilities across Texas. The company provides linen management, processing, and distribution services, including collection, laundering, sterilization support, and delivery of linens.
“This partnership represents an important step in HLSG’s continued growth strategy,” said Joe LaPorta, CEO and President of Healthcare Linen Services Group. “Texas Textile Services is a highly complementary business with strong customer relationships, an experienced team, and a shared commitment to delivering essential services to healthcare providers. We are excited to welcome the Company to HLSG and look forward to building on their success.”
The acquisition will expand HLSG’s presence in an attractive, high-growth healthcare market and provide opportunities to leverage the company’s scale, operational expertise, and customer-focused approach. Texas Textile Services’ established footprint in Texas, including its strategic operating footprint and long-tenured customer base comprised of many of Texas’ leading healthcare providers, offers a compelling platform for continued growth in a large and resilient market.
HLSG recently also completed the acquisition of Crescent Laundry, a provider of healthcare laundry services based in Davenport, Iowa with a strong reputation for quality and customer service in its regional markets. The addition of Crescent Laundry expands HLSG’s service footprint into the Iowa market and brings a high-quality processing facility into HLSG’s network, enhancing overall production capabilities and service flexibility.
Together, the acquisitions underscore HLSG’s commitment to expanding its service offering and delivering high-quality, dependable linen solutions to healthcare facilities nationwide.
About Healthcare Linen Services Group
Healthcare Linen Services Group is a leading provider of linen services to healthcare facilities, specializing in delivering high-quality linens and unparalleled customer service. With a commitment to excellence and innovation, Healthcare Linen Services Group serves healthcare organizations across the Midwest and Southcentral market, supporting their critical operations and patient care. For additional information, please visit www.healthcarelinensg.com.
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 $1 billion. Sterling has sponsored the buyout of 78 platform companies and numerous add-on acquisitions for a total transaction value of over $27 billion. Sterling currently has approximately $9.0 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.
Dallas, TX April 24, 2026
The Sterling Group Foundation Fund (the “Foundation Fund”), an operationally focused lower middle market private equity firm, today announced the acquisition of The Scruggs Companies (“Scruggs”), a provider of critical products and services to the municipal water and wastewater industry across the Southern and Midwestern United States.
Headquartered in Houston, Texas, Scruggs operates two verticals in Texas, Oklahoma, Kansas, Missouri, and Arkansas. First, the company provides essential flow control products – spanning valves, actuators, and automation components – through tenured partnerships with leading equipment manufacturers. Additionally, Scruggs performs repair and maintenance services for water and wastewater infrastructure and components. Through its differentiated product and service offering, Scruggs supports its municipal water and wastewater customers through the lifecycle of construction, expansion, and ongoing maintenance of essential water infrastructure.
“Scruggs has established a strong reputation with customers in the municipal flow control market, and we believe there is meaningful opportunity to accelerate growth through operational improvements and service line expansion,” said Luke Bateman, Managing Director of the Foundation Fund. “We look forward to partnering with the Scruggs team to execute on this next phase of growth with a shared vision of building a scaled water infrastructure solutions platform.”
Scruggs is a portfolio company of the Foundation Fund. The Foundation Fund aims to leverage The Sterling Group’s operational capabilities and experience in the industrial sector to “set the foundation” for growth at lower middle market companies. Other Foundation Fund portfolio companies include Premier Tire and Service, Compost 360, Russell Landscaping, OGD Overhead Garage Door, and AGS American Glass Services.
Scruggs was previously a portfolio company of Rox Capital Partners, a Texas-based private equity firm. BMO Capital Markets Corp. served as exclusive financial advisor to The Sterling Group in connection with the transaction.
About The Sterling Group Foundation Fund
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 $1 billion. Sterling has sponsored the buyout of 78 platform companies and numerous add-on acquisitions for a total transaction value of over $27 billion. Sterling currently has approximately $9.0 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.
Houston, TX April 23, 2026
The Sterling Group (“Sterling”), a Houston-based, operationally focused middle market private equity firm, is pleased to announce the additions of Robert Gray, Managing Director, General Counsel & Chief Compliance Officer and Pierce Edwards, Managing Director, Business Development to the Sterling team.
Robert Gray joined Sterling in February to lead the firm’s legal and compliance functions. Rob previously spent more than fifteen years at Riverstone Holdings LLC, an energy-focused asset management firm, where he most recently served as General Counsel, overseeing legal matters including transaction execution, fund formation, and regulatory compliance. Rob brings over 25 years of legal experience and will support Sterling’s operations, as well as provide broader legal guidance to Sterling portfolio companies.
Pierce Edwards joins Sterling’s Dallas office to expand the firm’s sourcing efforts. Prior to Sterling, Pierce served as Managing Director & Head of Business Development at Valesco Industries, a Dallas based private equity firm. Pierce brings nearly a decade of experience in business development in the lower middle market and will work closely with Sterling’s Foundation Fund team to source new platform investments as well as add-on acquisitions across all of Sterling’s strategies.
“We are pleased to welcome Pierce and Rob to the Sterling team,” said Scott MacLaren, Partner at The Sterling Group. “Pierce’s deep relationships and sourcing experience in the lower middle market will be highly valuable to our Portfolio Resources Group, and Rob’s legal expertise and experience navigating complex regulatory environments will further strengthen our legal and compliance capabilities.”
To learn more about a career at The Sterling Group, please visit www.sterling-group.com/careers/ or contact Claudine Lussier at clussier@sterling-group.com.
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 $1 billion. Sterling has sponsored the buyout of 78 platform companies and numerous add-on acquisitions for a total transaction value of over $27 billion. Sterling currently has approximately $9.0 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.
Houston, TX April 10, 2026
The Sterling Group (“Sterling”), an operationally focused middle market private equity firm based in Houston, Texas, announced the acquisition of Healthcare Linen Services Group (“HLSG”) from York Capital Management’s private equity group (“York Private Equity”). HLSG is a leading regional provider of mission-critical outsourced linen laundry and management services to healthcare institutions across the United States.
Founded in 2009 and headquartered in St. Charles, Illinois, HLSG provides laundry and rental services to a diversified base of healthcare customers. The company operates twenty-three linens facilities across thirteen states, primarily located in the Midwestern and Central U.S. Through its six leading regional brands, HLSG provides high-quality local execution by partnering with administrators, clinicians, and staff to deliver a wide variety of clean linens to thousands of healthcare facilities.
“I would like to thank the team at York Private Equity for their collaboration and guidance over the last four years. The HLSG team is thrilled to partner with The Sterling Group as we enter our next phase of growth,” said Joe LaPorta, CEO of HLSG. “Sterling’s experience scaling essential, mission-critical services businesses, commitment to employee ownership, and hands-on approach make the firm an ideal partner as we seek to expand our footprint and continue our mission of providing reliable, high-quality laundry and rental services to our valued customers.”
Robbie Shapiro, a Managing Director at York Private Equity, commented: “We are proud of HLSG’s transformational growth via strategic investments and add on acquisitions during our partnership and are grateful to Joe and his team for their leadership and operational excellence. With a strong foundation in place, the company is poised to build on its momentum, and we are excited to be rolling and continuing as investors.”
“HLSG is a differentiated platform with strong customer relationships and a reputation for exceptional service,” said Brad Staller, Partner at The Sterling Group. “We believe the company is well positioned to capitalize on continued growth in demand for outsourced healthcare linen services. Sterling looks forward to partnering with Joe and the entire HLSG team to scale and optimize the business through our tested Seven Levers operational improvement framework.”
Stephens, Inc. acted as financial advisor, Latham & Watkins LLP acted as legal advisor, and Weil, Gotshal & Manges LLP acted as financing counsel to The Sterling Group. BofA Securities acted as lead financial advisor, Cain Brothers, a division of KeyBanc Capital Markets, acted as co-financial advisor and Sidley Austin LLP acted as legal advisor to HLSG.
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 $1 billion. Sterling has sponsored the buyout of 77 platform companies and numerous add-on acquisitions for a total transaction value of over $27 billion. Sterling currently has approximately $9.0 billion of assets under management. For further information, please visit www.sterling-group.com.
About HLSG
Healthcare Linen Services Group is a leading provider of linen services to healthcare facilities, specializing in delivering high-quality linens and unparalleled customer service. With a commitment to excellence and innovation, Healthcare Linen Services Group serves healthcare organizations across the Midwest and Southcentral market, supporting their critical operations and patient care. For additional information, please visit www.healthcarelinensg.com.
About York Private Equity
York Private Equity, the private investing arm of York Capital Management, primarily targets control investments in middle-market businesses. Since inception in 2008, York Private Equity’s middle-market strategy has completed over 50 investments with aggregate transaction value in excess of $4 billion. York Private Equity has 13 dedicated team members. For more information, please visit www.yorkcapitalpe.com.
Past performance is no guarantee of future results and all investments are subject to loss.
Houston, TX March 25, 2026
The Sterling Group (“Sterling”), a Houston-based, operationally focused middle market private equity firm, is pleased to announce that the Firm has been ranked #13 and in the top 2% of over 695 middle market private equity firms globally in the 2025 HEC-DowJones Middle Market Buyout Performance ranking.
Sterling has been partnering with management teams to grow and build winning businesses in the industrial sector for over forty years. “We are honored to be recognized among the top-performing middle market private equity firms globally. This ranking reflects the consistency of our strategy, the strength of our operational approach, and the dedication of our team and portfolio company leaders. We remain focused on creating long-term value in the industrial sector and are deeply appreciative of the trust our investors place in us,” said Brian Henry, Partner at The Sterling Group. For more information, including the full ranking, criteria and methodology, please view the full report here.
The 2025 HEC Paris – DowJones Middle Market Buyout Performance Ranking seeks to answer the question: “Which large buyout firm(s) generated the best performance for their investors over the past years?” The ranking analyzed performance data from 695 private equity firms and 1,439 funds raised between 2012 and 2021 with an aggregate equity volume of $2.5 trillion. The HEC-DowJones Ranking draws on private equity fund performance data provided by Preqin and data reported directly to HEC-DowJones.
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 $1 billion. Sterling has sponsored the buyout of 77 platform companies and numerous add-on acquisitions for a total transaction value of over $27 billion. Sterling currently has approximately $9.0 billion of assets under management. For further information, please visit www.sterling-group.com.
HEC Paris and Dow Jones (“HEC-Dow Jones”) released the 2025 HEC Paris-DowJones Middle Market Buyout Performance Ranking (the “Report”) on March 6, 2026. The Report is based on information sourced from Preqin and data reported directly by certain participants in the rankings described in the Report. The Sterling Group provided certain information to HEC-Dow Jones in connection with the preparation of the Report, which addresses certain middle-market buyout fund sponsors and fund vintage years of 2012-2021. The Report ultimately represents the opinion of HEC-Dow Jones and not of The Sterling Group. Neither HEC-Dow Jones nor The Sterling Group has independently verified or assessed the information provided by other parties in connection with the preparation of the Report. In addition, the methodology used by HEC-Dow Jones 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. The Sterling Group pays an annual subscription fee to Preqin for access to certain data but did not compensate Preqin or HEC-Dow Jones to be considered for, or ultimately receive, any ranking described in the Report. There can be no assurance that other providers or surveys would reach the same conclusion as the foregoing. The Sterling Group makes no representations or warranties as to accuracy, completeness or reliability of information contained in the Report. Information relating to the Report and its methodology is available here.
Press releases and articles published prior to November 4, 2022 are being provided for informational purposes only and are not intended as advertising.
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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