The Sterling Group Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, The Sterling Group has acquired 9 companies.

The Sterling Group’s most common sectors for investment aredistribution (16%) and business services (14%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (36%) and secondary buyout (25%). In total, The Sterling Group has invested in 24 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2012 when it acquired Dexter Axle for $360M.

In the last 3 years, The Sterling Group has exited 1 company. The Firm’s most common exit type is secondary buyout (47%).

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M&A Summary

  • M&A Total Activity85
    • M&A Buy Activity53
    • M&A Sell Activity32
  • Total Sectors Invested 18
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 24
  • M&A Advisors 9

The Sterling Group

The Sterling Group L.P.

Nine Greenway Plaza, Suite 2400,
Houston, Texas 77046
United States
(713) 877-8257
www.sterling-group.com

The Sterling Group is a private equity firm focused on acquiring middle-market businesses within basic manufacturing, industrial services, and distribution. Sterling looks for companies valued from $100 to $1000 million with positive cash-flow, strong market positions, and potential to grow. Sterling avoids investments in financial services, real estate, healthcare, or information technology companies. The Sterling Group was formed in 1982 and is based in Houston, Texas.


Investment Criteria

Sectors of Interest: Aerospace, Airlines, Apparel/Textiles, Automotive, Building Materials, Business Services, Chemicals, Construction, Consumer Products, Distribution, Electrical Equipment, Environmental, Furniture, Machinery, Manufacturing, Packaging, Plastics, Safety/Security, Transportation, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 15 -
Investment Size 50 350
Enterprise Value 100 1,000
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (2.6/yr) # 40 4 3 4 2 - 53
vol $705M $705M
Sell (0.6/yr) # 29 2 - - 1 - 32
  85

Most Recent M&A

Company Date Value Type
OGD Overhead Garage Door 2024-07-08 - Buyout (LBO, MBO, MBI)
Fort Worth, Texas · www.ogd.com
Russell Landscape LLC 2024-07-02 - Recapitalization
Sugar Hill, Georgia · www.russelllandscapegroup.com
Evergreen North America Industrial Services, Inc. 2024-02-23 - Trade Sale
La Porte, Texas · www.enais.com
B'laster LLC 2023-10-27 - Buyout (LBO, MBO, MBI)
Valley View, Ohio · www.blasterproducts.com
Compost360 2023-08-02 - Consolidation
, United States · www.compost360.com
Premier Tire & Service 2023-05-18 - Consolidation
, United States · www.premiertireandservice.com
PrimeFlight Aviation Services 2023-03-06 - Secondary Buyout
Sugar Land, Texas · www.primeflight.com
Gulf Winds International 2022-12-19 - Buyout (LBO, MBO, MBI)
Seabrook, Texas · www.gwii.com
Ergotron, Inc. 2022-07-07 - Divestiture
St. Paul, Minnesota · www.ergotron.com
West Star Aviation LLC 2022-03-02 - Secondary Buyout
East Alton, Illinois · www.weststaraviation.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
White Cap Supply Holdings LLC 2020-08-11 Crimson Steel Supply LLC 2024-04-08 23
Norcross, Georgia · www.whitecap.com Tulsa, Oklahoma · www.crimsonsteelsupply.com
Ergotron, Inc. 2022-07-07 Enovate Medical 2023-10-30 1
St. Paul, Minnesota · www.ergotron.com Murfreesboro, Tennessee · www.enovatemedical.com
White Cap Supply Holdings LLC 2020-08-11 Form Tech Concrete Forms, Inc. 2023-07-05 22
Norcross, Georgia · www.whitecap.com Walled Lake, Michigan · www.formtechinc.com
Frontline Road Safety Group LLC 2020-08-03 Striping Service and Supply LLC 2023-03-02 1
Denver, Colorado · www.frontlineroadsafety.com Grand Prairie, Texas · www.stripingserviceandsupply.com
Evergreen Recycling LLC 2021-06-01 CarbonLite Industries - PET Recycling Facility 2021-06-01 1
Clyde, Ohio · www.evergreentogether.com Los Angeles, California
Greenbridge 2019-03-15 Evergreen Recycling LLC 2021-06-01 1
Mentor, Ohio · www.greenbridge.com Clyde, Ohio · www.evergreentogether.com
Fencing Supply Group 2021-03-01 Binford Supply LLC 2021-03-02 11
Houston, Texas · www.fencingsupplygroup.com Balch Springs, Texas · www.binfordsupply.com
Fencing Supply Group 2021-03-01 Merchants Metals LLC 2021-03-01 10
Houston, Texas · www.fencingsupplygroup.com Atlanta, Georgia · www.merchantsmetals.com
Frontline Road Safety Group LLC 2020-08-03 Hi-Lite Airfield Services LLC 2021-01-04 7
Denver, Colorado · www.frontlineroadsafety.com Watertown, New York · www.hi-lite.com
White Cap Supply Holdings LLC 2020-08-11 Construction Supply Group 2020-08-11 21
Norcross, Georgia · www.whitecap.com Denver, Colorado · www.constructionsupplygroup.com

M&A by Sector

Sector Current # Value All-time # Value
Distribution 1 (5%) - 8 (15%) -
Business Services 3 (15%) - 7 (13%) -
Building Materials 2 (10%) - 5 (9%) 345M (49%)
Machinery - - 5 (9%) -
Manufacturing - - 5 (9%) -
Construction 3 (15%) - 4 (8%) -
Packaging 1 (5%) - 4 (8%) -
Automotive 1 (5%) - 2 (4%) 360M (51%)
Aerospace 1 (5%) - 2 (4%) -
Environmental 2 (10%) - 2 (4%) -
Furniture 1 (5%) - 2 (4%) -
Airlines 1 (5%) - 1 (2%) -
Apparel/Textiles - - 1 (2%) -
Chemicals 1 (5%) - 1 (2%) -
Consumer Products 1 (5%) - 1 (2%) -
Plastics 1 (5%) - 1 (2%) -
Safety/Security - - 1 (2%) -
Transportation 1 (5%) - 1 (2%) -
Total 20 - 53 $705M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 20 (100%) - 50 (94%) 705M (100%)
  Texas 6 (30%) - 12 (23%) -
  Tennessee - - 4 (8%) -
  Ohio 3 (15%) - 3 (6%) -
  Georgia 2 (10%) - 3 (6%) -
  Illinois 2 (10%) - 2 (4%) -
  Alabama 1 (5%) - 2 (4%) -
  Minnesota 1 (5%) - 2 (4%) -
  Colorado 1 (5%) - 2 (4%) -
  Connecticut - - 2 (4%) 345M (49%)
  Virginia - - 2 (4%) -
  Nevada 1 (5%) - 1 (2%) -
  Arkansas 1 (5%) - 1 (2%) -
  Indiana - - 1 (2%) 360M (51%)
  Wisconsin - - 1 (2%) -
  Oklahoma - - 1 (2%) -
  New York - - 1 (2%) -
  Missouri - - 1 (2%) -
  Michigan - - 1 (2%) -
  Louisiana - - 1 (2%) -
  Kansas - - 1 (2%) -
  Iowa - - 1 (2%) -
  California - - 1 (2%) -
  Arizona - - 1 (2%) -
Canada - - 2 (4%) -
  Ontario - - 1 (2%) -
  Alberta - - 1 (2%) -
Austria - - 1 (2%) -
Domestic 20 (100%) - 50 (94%) 705M (100%)
Cross-border - - 3 (6%) -
Total 20 - 53 $705M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 5 (25%) - 19 (36%) -
Secondary Buyout 6 (30%) - 13 (25%) 345M (49%)
Divestiture 3 (15%) - 9 (17%) 360M (51%)
Consolidation 4 (20%) - 9 (17%) -
Growth Capital 1 (5%) - 1 (2%) -
Recapitalization 1 (5%) - 1 (2%) -
Venture - - 1 (2%) -
Total 20 - 53 $705M

Exits by Deal Type

Type Total # Value
Secondary Sale 15 (47%) -
Merger 6 (19%) -
Bankruptcy 4 (13%) -
IPO 2 (6%) -
Trade Sale 2 (6%) -
Trade Sale - Public Company 2 (6%) -
Divestiture 1 (3%) -
Total 32 -

Top M&A Advisors

Financial Deals
BlackArch
 2
Harris Williams
 2
Baird
 1
Legal Deals
Willkie Farr & Gallagher
 5
McDermott Will & Emery
 3
Latham & Watkins
 1

Deal Values

buy # Total
$100M to $1B 2 $705M
TOTAL $705M
Largest Dexter Axle Co., Inc.
$360M (2012-11-01)

M&A Connections

Deals
Acquired from
Investor(s)
23%
12 (23%)
Strategic(s)
17%
9 (17%)
Exited to
Investor(s)
50%
16 (50%)
Strategic(s)
31%
10 (31%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

9.0B USD

Established

1982

Specialist/Generalist

Generalist

Leadership

Erin Arnold

Managing Director

Jenny Harris

Managing Director

Luke Bateman

Managing Director

Claudine Lussier

Managing Director, Human Capital

Bradley Staller

Partner

FAQ

When was The Sterling Group founded?

The Sterling Group was founded in 1982.

What type of investor is The Sterling Group?

The Sterling Group is a private equity firm.

Where is The Sterling Group headquartered?

The Sterling Group is headquartered in Houston, Texas.

How much capital does The Sterling Group have under management?

The Sterling Group has 9.0B USD under management.

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