News

Acquisition

Houston, TX November 11, 2019

Highline Aftermarket, a Portfolio Company of The Sterling Group, Acquires Camco Manufacturing’s Liquids Division

The Sterling Group, a Houston-based middle market private equity firm, announced that its portfolio company Highline Aftermarket (“Highline”) has completed the acquisition of Camco Manufacturing’s Liquids division (“Liquids”). Liquids is a leading nationwide manufacturer of windshield wash, RV antifreeze, and diesel exhaust fluid, including private label products, with plants in Leominster, MA, Reidsville, NC, Elkhart, IN, and Albany, OR. Longstanding Liquids employees are joining the Highline team to provide continuity for customers and to continue building world-class operations to support Highline’s growth.

Sterling’s simultaneous combination in April 2016 of family-owned DYK and corporate carve-out AAHC, since renamed Highline, created a strong new automotive aftermarket distribution platform. The subsequent acquisitions of Service Champ, Levin’s, and South/Win have increased channel and geographic penetration and further solidified Highline as a market leader. The addition of Liquids fortifies Highline’s position as the largest and most efficient nationwide network for producing and distributing selected liquids and chemicals for the automotive, RV, and marine markets. Highline continues to invest rapidly to expand its blending and filling capabilities, and the addition of these Liquids plants represents a substantial increase in capacity. Will DuBose, President of Manufacturing, will continue to lead Highline’s blending and filling business.

“Over 50 years, the Caine family has built a fantastic Liquids business at Camco, with a reputation for high-quality products and exceptional customer service,” says Darcy Curran, CEO of Highline Aftermarket. “We are excited to combine the strengths of the Liquids business with Highline’s seven plants and 14 distribution centers to better serve customers nationwide. This combination is a perfect strategic fit and enables Highline’s growth ambitions. I welcome Liquids employees and customers to Highline.”

Highline has more than doubled in size during its three-year partnership with Sterling and will continue to pursue both organic and acquisition-related growth strategies.

About The Sterling Group

Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.0 billion of assets under management. For further information, please visit www.sterling-group.com.

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



Acquisition

Houston, TX November 06, 2019

Time Manufacturing Company, a portfolio of The Sterling Group, Acquires Market-Leading Composite Service Body Manufacturer, BrandFX

The Sterling Group, a Houston-based middle market private equity firm, announced today that one of its portfolio companies, Time Manufacturing Company (“Time”), has completed the acquisition of BrandFX.

Headquartered in Waco, Texas, Time is a global designer, manufacturer, and distributor of vehicle-mounted aerial lifts primarily for the electric utility, telecom, infrastructure, and forestry end markets. Time goes to market via several industry-leading brands, including the Versalift line of aerial lifts and digger derricks, and the Aspen Aerials line of under-bridge inspection units.

Headquartered in Fort Worth, Texas, BrandFX is a market-leading manufacturer of advanced composite service bodies, line bodies, inserts, toppers and covers. Founded in 1984, BrandFX has served as a longstanding leader in the industry, with a reputation for quality, innovation, engineering and lightweight and durable line of products. “The addition of BrandFX’s complementary product line further enhances Time’s ability to offer our customers the most reliable equipment at the lowest true cost of ownership,” said Curt Howell, CEO of Time.

With the acquisition of BrandFX, Time Manufacturing Company will employ more than 1,400 associates at 25 locations worldwide. BrandFX is Time’s sixth acquisition in the last two years.

About The Sterling Group

Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.0 billion of assets under management. For further information, please visit www.sterling-group.com.

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



Acquisition

Southlake, TX October 10, 2019

Artisan Design Group, a Portfolio Company of The Sterling Group, Completes the Acquisition of Dixie Carpet Installations

Artisan Design Group (“ADG”), a portfolio company of The Sterling Group, today announced the acquisition of Dixie Carpet Installations, Inc. (“Dixie” or the “Company”). ADG is a dealer of flooring products and services, providing design, procurement, installation and quality control of flooring and complementary products for homebuilders and multi-family developers.

Dixie is a leading provider of flooring installation and replacement services to existing and new-construction multi-family properties across Texas. The operational footprint of the company allows Dixie to serve customers in Houston, Austin, Dallas, San Antonio and Corpus Christi. The Dixie acquisition provides ADG with additional exposure to the flooring replacement or “relay” market in some of the fastest growing cities in the country.

“Artisan Design Group is excited to partner with Dixie Carpet Installations. We are confident that the Dixie team can build on its strong legacy of excellence and continue to grow beyond its current footprint. Dixie significantly expands our relay capabilities, allowing us to better serve our multi-family customers,” said Larry Barr and Wayne Joseph, Co-CEOs of ADG.

Headquartered in Southlake, Texas, ADG operates more than 70 distribution, design and service facilities and coordinates installation through over 1,300 independent contractors across 17 states. ADG was formed in 2016 through the combination of Floors Inc. and Malibu. The acquisition of Dixie represents ADG’s fifth acquisition over the past ten months under Sterling’s ownership. The company has completed thirteen total acquisitions since its founding in 2016. ADG continues to seek local and regional market leaders to add to its family of flooring specialists.

About The Sterling Group

Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 55 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.



Acquisition

Houston, TX October 02, 2019

Construction Supply Group, a Portfolio Company of The Sterling Group, Acquires Construction Materials

The Sterling Group, a Houston-based middle market private equity firm, announced that its portfolio company, Construction Supply Group (“CSG”), has completed the acquisition of Construction Materials. Operating 16 branches in the Southeastern United States, Construction Materials is a long-established wholesale distributor of specialty building products, primarily for concrete contractors.

Construction Supply Group is a leader in the distribution of specialty construction materials, accessories and tools, primarily for professional concrete and masonry contractors in the United States and Canada. The company holds the clear number two position in the industry and is five times larger than its next closest competitor. The company has over 125 branches with approximately 1,600 employees and offers over 60,000 SKUs to nearly 60,000 customers.

The partnership with Construction Materials expands CSG’s geographical presence in important MSAs such as Florida, Georgia, Alabama and Texas, and further enhances its ability to serve customers and partner with suppliers. “With its substantial regional scale and leading market position, the partnership with Construction Materials results in further geographical diversification,” said Mitch Williams, CEO of Construction Supply Group. “We are looking forward to continuing to build on the success and market leadership that Construction Materials has experienced to date.”

The acquisition of Construction Materials is Construction Supply’s nineteenth acquisition in three years. The company will continue to seek growth opportunities to better serve its customers.

About The Sterling Group

Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.0 billion of assets under management. For further information, please visit www.sterling-group.com.

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



Acquisition

Houston, TX October 01, 2019

Lynx FBO Network, a portfolio of The Sterling Group, Enters New York Metropolitan Area Market, Acquires Morristown FBO

Lynx FBO Network (Lynx), a portfolio company of The Sterling Group, announced today it has acquired the assets of FTC FBO (FTC) and will now operate as the second full-service FBO at the Morristown Airport (MMU) in Morristown, New Jersey. The acquisition marks Lynx’s eighth FBO location.

“We are excited to enter the New York metropolitan area and believe this expansion into the largest general aviation market in the United States is a perfect complement to our growing network of FBOs. We look forward to working with DM Airports, LTD., the town of Morristown and the local team to develop a safe, customer-centric FBO that operators in the region have come to expect,” said Matt DeLellis, Chief Financial Officer with Lynx. Scott McMahon, Executive Director of DM Airports, LTD., added, “We’re pleased to welcome Lynx to the Morristown Airport. They will be a valuable addition to the exceptional amenities currently offered to general aviation operators in Morristown.”

The Morristown Airport is conveniently located just 27 miles west of New York City and provides fast and convenient travel into New York City. The newly acquired FBO offers more than 45,000 square feet of hangar space and more than 4.5 acres of available apron for aircraft parking. Post-closing, Lynx will begin planning for the design and development of a new FBO terminal and hangar complex.

Lynx is a rapidly growing network of FBOs in the general aviation industry with locations in Destin, Florida, Minneapolis (Anoka), Minnesota, Portland (Aurora), Oregon, Little Rock, Arkansas, Napa, California, Pittsburgh, Pennsylvania, Fort Lauderdale, Florida and now Morristown, New Jersey. 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 investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.0 billion of assets under management. For further information, please visit www.sterling-group.com.

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



Acquisition

Houston, TX September 20, 2019

Tangent Technologies, a Portfolio Company of The Sterling Group, Completes Two Acquisitions

The Sterling Group, a Houston-based middle market private equity firm, announced that its portfolio company, Tangent Technologies, has completed the acquisitions of Home & Leisure and Vinyl Tech. Headquartered in Aurora, Illinois, Tangent is a leading manufacturer of high-density polyethylene (“HDPE”) lumber used for outdoor furniture, site amenities, structural applications, and marine decking. In recent years, HDPE lumber has become a leading substitute for traditional building materials in outdoor furniture and other applications given its durability and aesthetics. Tangent uses post-consumer recycled milk bottles as a primary raw material along with many other post-industrial recycled waste streams.

Home & Leisure is a vertically-integrated extruder, fabricator, and assembler of plastic lumber furniture focused on the mass market casual furniture industry. Vinyl Tech is Tangent’s long-time fulfillment provider with two distribution facilities, serving furniture and playground builders primarily located in Ohio, Pennsylvania, and Indiana. The acquisitions will further Tangent’s capabilities in sheet manufacturing, fabrication and assembly, as well as in distribution and fulfillment for key geographies. Together these capabilities will further enhance Tangent’s abilities to serve its current customer base.

“We are excited to partner with Tangent to expand production capacity and tap into their extrusion and base material expertise,” said Doug Holmstead, founder of Home & Leisure.

“Our company has been doing business exclusively with Tangent since 2006, and we are excited to further formalize our close partnership by adding new warehousing capabilities and expanding our footprint in Ohio and Pennsylvania,” said Eugene Miller, founder of Vinyl Tech.

The management teams and employee bases of Home & Leisure and Vinyl Tech are remaining in place to drive and support the continued expansion of both organizations. Doug Holmstead, founder of Home & Leisure, and Eugene Miller, founder of Vinyl Tech, both will continue to serve as leaders respectively.

“Having founded Tangent in 2003, I am excited to partner with two strong founder-led organizations to collectively serve our customers with enhanced capabilities and industry-leading innovation” said Guy DeFeo, CEO of Tangent.

Tangent will continue to pursue further acquisitions in support of its strategy to be the world-leader in wood alternative material manufacturing.

About The Sterling Group

Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.0 billion of assets under management. For further information, please visit www.sterling-group.com.

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



Acquisition

Houston, TX September 03, 2019

Construction Supply Group, a Portfolio Company of The Sterling Group, Completes Two Acquisitions

The Sterling Group, a Houston-based middle market private equity firm, announced that its portfolio company, Construction Supply Group (“CSG”), has completed the acquisitions of Holdfast and Concrete Accessories & Rentals. The businesses are single branch distributors in Medway, Ohio and Bozeman, Montana, respectively.

Construction Supply Group is a leader in the distribution of specialty construction materials, accessories and tools, primarily for professional concrete and masonry contractors in the United States and Canada. The company holds the clear number two position in the industry and is four times larger than its next closest competitor. The company has over 125 branches with approximately 1,550 employees and offers over 60,000 SKUs to nearly 50,000 customers.

The addition of Holdfast provides enhanced scale in the Dayton, Ohio MSA as well as an expertise in insulated concrete forms. The Concrete Accessories & Rentals acquisition provides a new presence in the fast growing Northern Rocky Mountain region. “Construction Supply will continue to partner with market leading construction supply specialists, expanding our footprint in attractive geographies and enhancing the capabilities that we can offer customers across North America,” said Mitch Williams, CEO of Construction Supply 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 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.0 billion of assets under management. For further information, please visit www.sterling-group.com.

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



News

Houston, TX 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



Acquisition

Southlake, TX June 05, 2019

Artisan Design Group, a Portfolio Company of The Sterling Group, Completes the Acquisition of Heritage Carpet & Tile

Artisan Design Group (“ADG”), a portfolio company of The Sterling Group, today announced the acquisition of Heritage Carpet & Tile, LLC (“Heritage” or the “Company”). ADG is a dealer of flooring products and services, providing design, procurement, installation and quality control of flooring and complimentary products for homebuilders and multi-family developers.

Heritage is a leading provider of design center and installation services for flooring and complimentary products such as shower enclosures, mirrors and window treatments in Southern Florida. For over 30 years, Heritage has been offering exceptional customer service and reliable installation to its homebuilder customers. The Company is headquartered in Boynton Beach, Florida and has further locations in Fort Pierce, Naples and Sarasota. “We are very pleased to be teaming up with ADG. Their broad reach and experience across a variety of product categories will support us in continuing our strong growth. Furthermore, as a family business, we were also looking for a partner with the right cultural fit that will allow us to continue our focus on local customer service and execution,” said Randy Smith CEO and President of Heritage.

“We are excited to welcome Heritage Carpet & Tile to Artisan Design Group. We continuously strive to enhance our capabilities to better serve our customers, and through Heritage we will expand our geographic footprint to the important Florida market. The Heritage team has built an impressive company and we are proud to be partnering with them,” said Larry Barr and Wayne Joseph, Co-CEOs of ADG.

Headquartered in Southlake, Texas, ADG operates more than 65 distribution, design and service facilities and coordinates installation through over 1,250 independent contractors across 17 states. ADG was formed in 2016 through the combination of Floors Inc. and Malibu. The acquisition of the Heritage represents ADG’s fourth acquisition over the past six months under Sterling’s ownership. The company has completed twelve total acquisitions in the past two years. ADG continues to seek local and regional market leaders to add to its family of flooring specialists.

About The Sterling Group

Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 56 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $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.



Acquisition

Houston, TX May 07, 2019

Construction Supply Group, a Portfolio Company of The Sterling Group, Completes Three Acquisitions

The Sterling Group, a Houston-based middle market private equity firm, announced that its portfolio company, Construction Supply Group (“CSG”), has completed the acquisitions of Best Materials, Advantage Construction Supply and Spec-West Concrete Systems. Best Materials is a construction supply e-commerce platform based in Phoenix, Arizona. Advantage and Spec-West are concrete and construction supply providers with a combined four branches in California.

Construction Supply Group is a leader in the distribution of specialty construction materials, accessories and tools, primarily for professional concrete and masonry contractors in the United States and Canada. The company holds the clear number two position in the industry and is four times larger than its next closest competitor.  The company has over 100 branches with over 1,300 employees and offers over 60,000 SKUs to nearly 50,000 customers.

With these additions, Construction Supply Group will have the leading market position in the Sacramento, California market and will have a further enhanced e-commerce capability. The three acquisitions result in a total of sixteen regional businesses acquired under Sterling’s ownership.

“We’re looking forward to drawing on the unique strengths of these three organizations as we continue to build Construction Supply Group towards our vision serving as North America’s leading construction supply distributor,” said Mitch Williams, CEO of Construction Supply Group. “This is a great opportunity to further strengthen existing market positions and add capabilities to better serve our customers.” Construction Supply Group will continue to seek further additions to its family of specialty construction supply distribution 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 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $1.8 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.