News

Team Additions

Houston, TX February 20, 2024

The Sterling Group Announces Promotions

The Sterling Group (“Sterling”), a Houston-based, operationally focused middle market private equity firm, is pleased to announce eight internal promotions: John Griffin and Meghan Leggett to Managing Director; Jared North to Managing Director, Sourcing; Johann Friese to Director; Anu George to Director, Fund Accounting; Aryan Sameri to Director, Commercial Diligence & Strategy; Jacob Broom to Principal, Private Credit; and Patrick Vocke to Principal.

In addition, Jenny Harris, current Managing Director, Private Credit, has been named Managing Director, Capital Markets for all of Sterling’s investment strategies.

“Since 1982, Sterling has been building winning businesses for customers, employees, and investors, and this would not be possible without a team of highly skilled and passionate individuals such as the ones being recognized here. We are proud to celebrate those who have been promoted for their contributions to the firm,” said Brad Staller, Partner at The Sterling Group.

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 $750 million. Sterling has sponsored the buyout of 67 platform companies and numerous add-on acquisitions for a total transaction value of over $22.0 billion. Sterling currently has over $6.0 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.



Acquisition

Denver, CO December 18, 2023

Frontline Road Safety, A Portfolio Company of The Sterling Group, Completes the Acquisition of The Aero-Mark Company

Frontline Road Safety, LLC (“Frontline”), a portfolio company of The Sterling Group (“Sterling”), today announced the acquisition of The Aero-Mark Company, LLC (“Aero-Mark”). Frontline’s operating companies provide pavement marking and ancillary services to a variety of end markets and customers.

The Aero-Mark transaction marks Frontline’s twelfth acquisition since the platform was established in July 2020. Headquartered in Streetsboro, Ohio, with an additional location in Cincinnati, Aero-Mark is a leading pavement marking contractor that provides state DOTs and general contractor customers with the highest levels of service and work quality. “This partnership with Frontline will allow us to expand our reach and capabilities, benefiting our customers and employees alike,” said Mike Krenn and Curt Huffman, Co-Owners of Aero-Mark.

“We are excited to partner with the Aero-Mark team and to continue building our presence in the Midwest,” said Mitch Williams, CEO of Frontline Road Safety. “The Aero-Mark team is known across the industry for its commitment to quality, service and safety. Aero-Mark will be a terrific addition to the Frontline platform.”

Over the last several years, Sterling has executed on its investment thesis to build a leader in the road safety and infrastructure maintenance industry. Through organic growth and further acquisitions, Sterling intends to continue building 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 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 67 platform companies and numerous add-on acquisitions for a total transaction value of over $22.0 billion. Sterling currently has over $6.0 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.



Acquisition

St. Louis, MO November 06, 2023

West Star Aviation, a Portfolio Company of The Sterling Group, Acquires Jet East, a Gama Aviation Company

West Star Aviation (“West Star”), a portfolio company of The Sterling Group, has announced that it has acquired Jet East. West Star is a leading provider of maintenance, repair, and overhaul (“MRO”) services to the business aviation industry providing maintenance, modification, and other services to aviation customers. Jet East provides MRO services as well and focuses on supporting fractional and managed fleet operators. Capabilities include an expansive ‘Aircraft on Ground’ (“AOG”) mobile repair technician network, line maintenance operations, heavy maintenance facilities, and other complementary services.

“I’m extremely happy to welcome the Jet East employees to West Star. Both West Star and Jet East are remarkable companies with strong and unique cultures,” said Jim Rankin, CEO of West Star Aviation. “I’m looking forward to bringing the Jet East and West Star teams together as we build the premier Business Aviation Maintenance provider in the industry. Our focus now is to use this combination to better serve our customers and support our employees.”

“I am thrilled about this new chapter for the combined company of West Star and Jet East. With the official close, we are provided a unique opportunity to enhance our capabilities and expand our offerings to better serve the needs of the aviation industry. As we turn our attention toward the exciting task of strategic integration, we remain committed to our customers so there is no disruption to the service that we provide. I am proud of what has been accomplished and excited about the future,” said Stephen Maiden, CEO of Jet East.

“We were thrilled to help play a part in bringing together these two world class teams to combine complementary capabilities, geographies, and customer bases. We couldn’t be more excited in welcoming the entire Jet East family to West Star,” added Greg Elliott and John Griffin, Board Members of West Star Aviation.

This partnership will bring together two of the best teams in business aviation that together will become stronger through added scale and expanded capabilities. Customers and vendors should expect no change while leaders of each organization work together on longer-term integration planning.

Latham & Watkins LLP served as legal counsel and Jefferies, LLC served as a financial advisor to West Star.

About West Star Aviation

West Star Aviation specializes in airframe repair and maintenance, engine repair and maintenance, major modifications, avionics installation and repair, interior refurbishment, paint, parts, surplus avionics sales, window repair and accessory services. The company also provides complete FBO services for transient aircraft at its East Alton and Grand Junction facilities. West Star provides services at four primary locations in East Alton, Illinois; Grand Junction, Colorado; Chattanooga, Tennessee; and Perryville, Missouri, as well as fifteen mobile repair bases and satellite MRO facilities. West Star also provides parts distribution and composite repair services through its Avant and DAS businesses respectively. For more information, please visit weststaraviation.com.

About Jet East, a Gama Aviation Company

Jet East, A Gama Aviation Company, is one of the nation’s leading aviation maintenance providers. The company specializes in scheduled maintenance, on-demand mobile maintenance for unscheduled events, paint and interior completions and provides related services in the areas of structural repairs, composite work, and non-destructive testing (NDT).  With a deeply talented workforce, Jet East is available to meet customer maintenance needs with on-demand service and coast to coast coverage in the U.S and in certain international markets.  An expansive AOG Mobile Maintenance team operates with a 24/7 Dispatch Team and compliments the company’s maintenance hangars in North Carolina, New York, New Jersey, Florida, Texas, California, Illinois, and Nevada. For more information, please visit jeteastgama.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 67 platform companies and numerous add-on acquisitions for a total transaction value of over $22.0 billion. Sterling currently has over $6.1 billion of assets under management. For further information, please visit www.sterling-group.com.

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



Acquisition

Ashland, VA September 27, 2023

Fencing Supply Group, a Portfolio Company of The Sterling Group, Acquires Atlantic Fence Supply

Fencing Supply Group (“FSG”), a portfolio company of The Sterling Group, announced that it has acquired Atlantic Fence Supply (“AFS” or “The Company”), an experienced fence supplier known for their customer service and reliability serving Richmond, Tidewater and the surrounding Virginia area. AFS is a leading wholesale distributor of ornamental, vinyl, wood, and chain link fencing, as well as custom gates, and operates from their branch location in Ashland, Virginia.

Established in 1998, AFS prides itself on providing outstanding customer service with a sales staff that has more than 50 years of combined fence experience. The company focuses on the fabrication of chain-link gates, kennels and aluminum slide gates, as well as standard and custom vinyl fence styles.  Macon Powers, President of Atlantic Fence Supply, said “Joining Fencing Supply Group will provide many opportunities for our employees and customers. We are excited to expand our capabilities and continue to give our customers the dedication they have come to expect.”

“We are very excited to help AFS build on their outstanding track record and continue to grow their business. The company is built on a cultural foundation of integrity, trust and taking care of its people, which aligns with our values,” said Andrea Hogan, CEO of Fencing Supply Group.

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 and manufacturer of fencing and outdoor living 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 to benefit customers, employees, and suppliers. Current FSG companies include Binford Supply, Cedar Supply, Fence Supply, Hartford Fence, Merchants Metals, Pro Access Systems, Sharon Fence Distributors, Specialty Fence Wholesale Jacksonville, Specialty Fence Wholesale Mulberry, and Vinyl by Design, which collectively operate over 70 branches across more than 30 states. For further information, please visit fencingsupplygroup.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 66 platform companies and numerous add-on acquisitions for a total transaction value of over $22.0 billion. Sterling currently has over $6.1 billion of assets under management. For further information, please visit www.sterling-group.com.



Acquisition

Dallas, TX September 01, 2023

Artisan Design Group, a Portfolio Company of The Sterling Group, Completes the Acquisition of KB Kitchen & Bath

Artisan Design Group (“ADG”), a portfolio company of The Sterling Group, today announced the acquisition of KB Kitchen & Bath (“KB”). ADG is a leading provider of interior finish products and installation to homebuilders, multi-family developers, and institutional property owners. Based in South Carolina, KB is a cabinet installer and distributor primarily serving the single-family housing market.

“We are thrilled to work with KB and to strengthen ADG’s presence in the Carolinas,” said Steve Margolius, CEO of Artisan Design Group. “This acquisition will provide ADG with greater coverage of the single-family market and will enhance our cabinet offering in this region.”

“Our partnership with ADG will provide us with an exciting opportunity to expand operations alongside an industry leader, allowing us to better serve our customers,” said Bob Wilkes, President & CEO of KB Kitchen & Bath.

About Artisan Design Group

ADG is a provider of design, procurement, and installation services for flooring, cabinets and countertops, serving homebuilders, multi-family developers and institutional property owners. Headquartered in Dallas, Texas, ADG operates more than 160 distribution, design and service facilities and coordinates installation through over 3,400 personnel across 25 states. ADG was formed in 2016 through the combination of Floors Inc. and Malibu Floors. ADG has completed fifteen acquisitions over the past four years under Sterling’s ownership. The company has completed twenty-two 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 $1 billion. Sterling has sponsored the buyout of 66 platform companies and numerous add-on acquisitions for a total transaction value of over $22.0 billion. Sterling currently has over $6.1 billion of assets under management. For further information, please visit www.sterling-group.com.

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



Acquisition

Dallas, TX August 02, 2023

The Sterling Group Foundation Fund Launches New Platform, Compost360

Compost360 Completes First Acquisition, Nature’s Choice

The Sterling Group, an operationally focused middle market private equity firm, today announced the formation of Compost360, a new platform focused on building a leading processor of organic waste material and producer of high quality, sustainable landscaping products. Sterling is partnering with two industry executives, Steve Carn and Randy Arnold, who will serve as CEO and COO of the Compost360 platform.

Compost360 is pleased to announce the acquisition of Nature’s Choice, an organic waste recycling company and producer of compost, mulch and engineered soils based in New Jersey. Nature’s Choice is the first acquisition of the Compost360 platform.

“We look forward to partnering with Steve Carn and Randy Arnold to build the Compost360 platform, each of whom has decades of experience in the municipal solid waste industry,” said Lucas Cutler, Partner of The Sterling Group Foundation Fund. “Nature’s Choice is a nationally recognized leader in the organic recycling and mulch/soil market and is an exciting first addition to the Compost360 platform.”

“The Sterling team shares our vision of building a vertically-integrated organics waste recycling and composting platform with national scale, and their hands-on approach to operations will help us in executing this vision of partnering with best-in-class companies like Nature’s Choice,” said Steve Carn CEO of Compost360.

Compost360 is a portfolio company of The Sterling Group Foundation Fund. The Foundation Fund aims to leverage the firm’s operational capabilities and experience in the industrial sector to “set the foundation” for growth at lower middle market companies.

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 66 platform companies and numerous add-on acquisitions for a total transaction value of over $14.0 billion. Sterling currently has over $5.9 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

Houston, TX July 27, 2023

The Sterling Group Joins Ownership Works to Continue Long History of Sharing Economics with Portfolio Companies

The Sterling Group (“Sterling”), a Houston-based, operationally focused middle market private equity firm, is pleased to announce that the Firm is partnering with Ownership Works to continue its long history of sharing economics with portfolio companies. Ownership Works is a nonprofit organization that partners with companies and investors to implement broadbased employee ownership programs.

Sterling believes the pace of progress dramatically increases when Sterling and employees are economically aligned and when employees can participate in a successful investment outcome. Since 1982, Sterling has been widely sharing equity and/or options with employees of portfolio companies. Sterling’s founder, Gordon Cain, wrote a book called “Everyone Wins” detailing his and Sterling’s philosophy on sharing economics, and these principles are still carried by the firm today.

“Over four decades investing in the industrial sector, we have learned that employees are more engaged and more impactful when they have ownership. This “Everybody Wins” philosophy of partnering with our portfolio company employees to create long term value is a founding principle of our firm. We are thrilled to continue sharing economics with portfolio company employees in partnership with Ownership Works to drive better investment outcomes and generate wealth for employees and their families,” said Brad Staller, a Partner at The Sterling Group.

Ownership Works, a new nonprofit organization with a mission to create $20 billion in wealth for workers by 2030, announced 15 new Founding Partners. Building on an unprecedented initial cohort of partners in 2022, this new cohort brings the organization’s groundbreaking consortium to a total of over 75 leaders from the private, public, and nonprofit sectors. Collectively, these firms and individuals are committed to improving financial outcomes for businesses and workers through broad-based employee ownership.

Ownership Works’ Founding Partners include investors, banks, professional services firms, pension funds, labor advocates, nonprofits, and public companies. These partners support the nonprofit’s mission in various ways, including pro bono subject matter expertise and charitable contributions. Of Ownership Works’ investor partners, 23 private equity firms have made industry-leading commitments to provide all full-time employees within at least three of their portfolio companies with a pathway to participate in broad-based employee ownership programs.

“We’re thrilled to see the business community continuing to rally behind broad-based employee ownership. Since our public launch in 2022, 66 companies have implemented shared ownership programs, reaching over 95,000 employees, and over $350 million has been paid out to workers,” said Anna-Lisa Miller, Executive Director of Ownership Works. “With this second cohort of Founding Partners, Ownership Works takes another considerable step forward in our mission to make shared ownership the new norm within corporate America, allowing all workers to benefit from the value they help create.”

As part of Ownership Works’ second cohort of Founding Partners, four leaders and advisors have joined Ownership Works’ Pension Fund Leadership Council, lending their time and expertise to help establish shared ownership as a leading investment strategy that generates both strong financial returns and significant social benefit.

Ownership Works’ new Founding Partners and Pension Fund Leadership Council members include:

Institutional Partners

· Advent International

· Aksia

· AlixPartners

· Ardian

· Building Industry Partners

· Frontenac

· KPMG

· Neuberger Berman

· Prudential Foundation

· The Riverside Company

· The Sterling Group

Pension Fund Leadership Councilmembers

· Scott Hart, Partner & CEO, StepStone Group

· Mike Krems, Partner, Private Equity Portfolio Strategies, Aksia

· Polina Sims, Managing Director, Head of Investment Strategy, Sustainability and Asset Management, Investment Management Corporation of Ontario

· Elizabeth Traxler, Managing Director, Neuberger Berman

Recent Impact¹

Ownership Works has made significant progress since its founding in 2021, recently releasing its first Impact Report. The report includes an overview of the number of shared ownership programs implemented, and the amount of wealth shared, to date. Progress includes:

Programmatic Progress

· 66 companies with board-approved shared ownership plans

· 95K+ employees impacted by shared ownership

Wealth Shared

· $359M – Wealth shared through broad-based employee ownership programs²

· $127M – Wealth shared with low- and moderate-income workers³

· $153M – Wealth shared with workers of color⁴

· $101,710 – Average payout to low- and moderate-income workers⁵

To learn more about the partners that have joined Ownership Works in the movement to establish broad-based employee ownership as the new norm at work, please visit ownershipworks.org/partners/.

About Ownership Works

Ownership Works is a nonprofit organization on a mission to increase prosperity through shared ownership at work. The organization partners with business leaders and investors to provide all employees with the opportunity to become owners at work and participate in the success they help create. To learn more, please visit ownershipworks.org.

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 65 platform companies and numerous add-on acquisitions for a total transaction value of over $14.0 billion. Sterling currently has over $5.9 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. In connection with Sterling’s collaboration with Ownership Works, Sterling has made and will continue to make financial contributions to Ownership Works to support the organization’s  charitable activities.


¹ This information was provided by Ownership Works as of July 21, 2023 and has not been independently verified by Sterling.

² Sum of total payouts (dividends and exits) to all employees excluding the top five highest payout recipients at companies where data has been provided.

³ Sum of total payouts (dividends and exits) to all employees with incomes less than or equal to $113,675 (i.e., 250% of 2021 U.S. median individual earnings, as based on U.S. Census data: “Earnings Summary Measures by Selected Characteristics: 2020 and 2021.”)

⁴ From companies where employee-level data has been provided and based on total payout data with no exclusions or thresholds.

⁵ Based on available employee-level data for U.S. workers for exit payouts, and assuming employee-level income data shared with O.W. is total annual compensation.



Acquisition

Dallas, TX June 05, 2023

Artisan Design Group, a Portfolio Company of The Sterling Group, Completes the Acquisition of Peachtree Cabinet Distributors and GranCo Countertops

Artisan Design Group (“ADG”), a portfolio company of The Sterling Group, today announced the acquisition of Peachtree Cabinet Distributors (“Peachtree”) and GranCo Countertops (“GranCo” or collectively the “Company”). ADG is a leading provider of interior finish products and installation to homebuilders, multi-family developers, and institutional property owners. Both based in Georgia, Peachtree is a cabinet distributor serving the single-family housing market, and GranCo is a full-service countertop fabricator and installer.

“We look forward to strengthening ADG’s presence in the Southeast region through our partnership with Peachtree and GranCo,” said Steve Margolius, CEO of Artisan Design Group. “The addition of the Company will enhance our cabinet offering in the Southeast and expand our product capabilities to countertops, allowing us to better serve our customers through bundled services.”

“ADG is the ideal partner for Peachtree and GranCo because of our shared commitment to providing customers with best in class cabinets and countertops services,” said Ryan Kempf and Todd Whiddon.

About Artisan Design Group

ADG is a provider of design, procurement, and installation services for flooring, cabinets and countertops, serving homebuilders, multi-family developers and institutional property owners. Headquartered in Dallas, Texas, ADG operates more than 172 distribution, design and service facilities and coordinates installation through over 3,000 personnel across 25 states. ADG was formed in 2016 through the combination of Floors Inc. and Malibu Floors. ADG has completed fourteen acquisitions over the past four years under Sterling’s ownership. The company has completed twenty-two 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 65 platform companies and numerous add-on acquisitions for a total transaction value of over $14.0 billion. Sterling currently has over $5.9 billion of assets under management. For further information, please visit www.sterling-group.com.

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



Acquisition

Dallas, TX May 18, 2023

The Sterling Group Foundation Fund Launches New Platform, Premier Tire & Service

The Sterling Group, an operationally focused middle market private equity firm, announced the establishment of Premier Tire & Service (“Premier”), a new platform formed to build a leading, one-stop tire and auto service solutions provider.

Lucas Cutler, Partner of The Sterling Group Foundation Fund, and other team members have deep experience in the auto aftermarket sector. “We are excited to enter the highly attractive tire retail and service segment of the aftermarket automotive industry and partner with seasoned industry professionals to build a platform of scale,” said Lucas Cutler.  Sterling will partner with John Adams, an executive with 25 years of experience in the automotive aftermarket industry and former CEO of Full Speed Automotive, to build the Premier platform. Premier will seek to acquire independent tire and retail service locations with customer-focused service models in various markets across the country.

Premier is a portfolio company of The Sterling Group Foundation Fund. The Foundation Fund aims to leverage the firm’s operational capabilities and experience in the industrial sector to “set the foundation” for growth at lower middle market companies. Earlier this year, Luke Bateman joined the Foundation Fund team as a Managing Director.  Luke brings over a decade of experience partnering with lower middle market companies and was most recently a Partner at Insight Equity in Dallas. Luke joins a group of both Sterling alumni and new additions that comprise the Foundation Fund Investment team: Steven Hirsch, Director; Jared Bell, Vice President; Bryan Tisdale, Vice President; Lynn Astrup, Associate; and Graham Gillespie, Associate. The Foundation Fund team partners with Sterling’s Portfolio Resources Group, a team of operational executives with expertise in each of the Seven Levers.

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 65 platform companies and numerous add-on acquisitions for a total transaction value of over $14.0 billion. Sterling currently has over $5.9 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

Houston, TX March 29, 2023

The Sterling Group Ranked Number 8 in 2022 HEC-Dow Jones Middle Market Buyout Private Equity Performance Ranking

The Sterling Group (“Sterling”), a Houston-based, operationally focused middle market private equity firm, is pleased to announce that the Firm has been ranked #8 out of over 563 middle market private equity firms globally in the 2022 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. “The Sterling team shares a passion for building great industrial businesses through investments in the Seven Levers, and we believe this passion has driven strong results,” said Brian Henry, Partner at The Sterling Group. “We are grateful to our investors for their continued support, and to our management teams for driving initiatives and growth at our portfolio companies.” For more information, including the full ranking, criteria and methodology, please view the full report here.

The 2022 HEC Paris – DowJones Middle Market Buyout Performance Ranking seeks to answer the question: “Which firm(s) in the Middle Market Buyout segment generated the best performance for their investors over the past years?” The ranking analyzed performance data from 563 PE firms and the 2021 funds they raised between 2009 and 2018 with an aggregate equity volume of $1.51 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 $750 million. Sterling has sponsored the buyout of 64 platform companies and numerous add-on acquisitions for a total transaction value of over $14.0 billion. Sterling currently has over $5.1 billion of assets under management. For further information, please visit www.sterling-group.com.

HEC Paris and Dow Jones (“HEC-Dow Jones”) released the 2022 HEC Paris-DowJones Middle Market Buyout Performance Ranking (the “Report”) on March 5, 2023. 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 2009-2018. 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.