The Sterling Group Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, The Sterling Group has acquired 7 companies.

The Sterling Group’s most common sectors for investment aredistribution (15%) and manufacturing (15%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (41%) and secondary buyout (29%). In total, The Sterling Group has invested in 25 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 (52%).

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M&A Summary

  • M&A Total Activity78
    • M&A Buy Activity49
    • M&A Sell Activity29
  • Total Sectors Invested 15
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 19
  • M&A Advisors 7

The Sterling Group

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 $750 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, Apparel/Textiles, Automotive, Building Materials, Business Services, Chemicals, Construction, Consumer Products, Distribution, Electrical Equipment, Machinery, Manufacturing, Packaging, Safety/Security, Transportation, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, 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 40 200
Enterprise Value 100 750
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.8/yr) # 40 2 3 2 1 1 49
vol $705M $705M
Sell (0.4/yr) # 27 1 1 - - - 29
  78

Most Recent M&A

Company Date Value Type
OGD Equipment Co. 2024-07-08 - Buyout (LBO, MBO, MBI)
Fort Worth, Texas · www.ogdequipment.com
PrimeFlight Aviation Services 2023-03-06 - Secondary Buyout
Sugar Land, Texas · www.primeflight.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
Time Manufacturing Co. 2021-12-03 - Secondary Sale
Waco, Texas · www.timemfg.com
L&S Mechanical 2021-09-02 - Secondary Buyout
Richardson, Texas · www.lsmech.com
Merchants Metals LLC 2021-03-01 - Secondary Buyout
Atlanta, Georgia · www.merchantsmetals.com
Fencing Supply Group 2021-03-01 - Consolidation
, Texas
Highline Warren LLC 2020-10-08 - Secondary Sale
Memphis, Tennessee · www.highlineaftermarket.com
Stripe-A-Zone, Inc. 2020-08-11 - Buyout (LBO, MBO, MBI)
Grand Prairie, Texas · www.stripe-a-zone.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Ergotron, Inc. 2022-07-07 Enovate Medical 2023-10-30 1
St. Paul, Minnesota · www.ergotron.com Murfreesboro, Tennessee · www.enovatemedical.com
Frontline Road Safety 2020-08-03 Striping Service and Supply LLC 2023-03-02 1
Denver, Colorado · www.frontlineroadsafety.com Grand Prairie, Texas · www.stripingserviceandsupply.com
Fencing Supply Group 2021-03-01 Binford Supply LLC 2021-03-02 11
, Texas Balch Springs, Texas · www.binfordsupply.com
Frontline Road Safety 2020-08-03 Hi-Lite Airfield Services LLC 2021-01-04 6
Denver, Colorado · www.frontlineroadsafety.com Watertown, New York · www.hi-lite.com
Frontline Road Safety 2020-08-03 Apply-A-Line LLC 2020-08-03 5
Denver, Colorado · www.frontlineroadsafety.com Pacific, Washington · www.applyaline.com
Tangent Technologies LLC 2018-01-01 Bedford Technology LLC 2020-02-01 3
Aurora, Illinois · www.tangentusa.com Worthington, Minnesota · www.plasticboards.com
Evergreen North America Industrial Services, Inc. 2016-06-20 Evergreen Industries Ltd. - Solid Waste Business 2019-08-06 1
La Porte, Texas · www.enais.com La Porte, Texas
Lynx FBO Network 2016-09-30 World Jet, Inc. - FBO Assets 2019-02-04 5
, United States Fort Lauderdale, Florida
Lynx FBO Network 2016-09-30 Voyager Jet Center - FBO Assets 2018-10-22 4
, United States West Mifflin, Pennsylvania
Construction Supply Group 2017-05-03 Carter-Waters Construction Materials 2017-06-30 21
Denver, Colorado · www.constructionsupplygroup.com Overland Park, Kansas · www.carter-waters.com

M&A by Sector

Sector Current # Value All-time # Value
Distribution 1 (5%) - 7 (14%) -
Manufacturing 2 (11%) - 7 (14%) -
Building Materials 3 (16%) - 6 (12%) 345M (49%)
Business Services 3 (16%) - 6 (12%) -
Machinery 1 (5%) - 6 (12%) -
Packaging 1 (5%) - 4 (8%) -
Aerospace 2 (11%) - 2 (4%) -
Construction 1 (5%) - 2 (4%) -
Furniture 1 (5%) - 2 (4%) -
Safety/Security 1 (5%) - 2 (4%) -
Automotive - - 1 (2%) 360M (51%)
Airlines 1 (5%) - 1 (2%) -
Apparel/Textiles - - 1 (2%) -
Consumer Products 1 (5%) - 1 (2%) -
Plastics 1 (5%) - 1 (2%) -
Total 19 - 49 $705M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 19 (100%) - 46 (94%) 705M (100%)
  Texas 7 (37%) - 12 (24%) -
  Tennessee - - 4 (8%) -
  Illinois 2 (11%) - 2 (4%) -
  Colorado 2 (11%) - 2 (4%) -
  Georgia 1 (5%) - 2 (4%) -
  Missouri 1 (5%) - 2 (4%) -
  Minnesota 1 (5%) - 2 (4%) -
  Connecticut - - 2 (4%) 345M (49%)
  Virginia - - 2 (4%) -
  Arkansas 1 (5%) - 1 (2%) -
  Pennsylvania 1 (5%) - 1 (2%) -
  Ohio 1 (5%) - 1 (2%) -
  North Carolina 1 (5%) - 1 (2%) -
  Indiana - - 1 (2%) 360M (51%)
  California - - 1 (2%) -
  Arizona - - 1 (2%) -
  Alabama - - 1 (2%) -
  Wisconsin - - 1 (2%) -
  Oklahoma - - 1 (2%) -
  New York - - 1 (2%) -
  Michigan - - 1 (2%) -
  Louisiana - - 1 (2%) -
  Kansas - - 1 (2%) -
  Iowa - - 1 (2%) -
Canada - - 2 (4%) -
  Ontario - - 1 (2%) -
  Alberta - - 1 (2%) -
Austria - - 1 (2%) -
Domestic 19 (100%) - 46 (94%) 705M (100%)
Cross-border - - 3 (6%) -
Total 19 - 49 $705M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 6 (32%) - 20 (41%) -
Secondary Buyout 8 (42%) - 14 (29%) 345M (49%)
Divestiture 1 (5%) - 7 (14%) 360M (51%)
Consolidation 3 (16%) - 6 (12%) -
Growth Capital 1 (5%) - 1 (2%) -
Venture - - 1 (2%) -
Total 19 - 49 $705M

Exits by Deal Type

Type Total # Value
Secondary Sale 15 (52%) -
Merger 5 (17%) -
Bankruptcy 4 (14%) -
IPO 2 (7%) -
Divestiture 1 (3%) -
Trade Sale 1 (3%) -
Trade Sale - Public Company 1 (3%) -
Total 29 -

Top M&A Advisors

Financial Deals
Harris Williams & Co.
2
Houlihan Lokey
1
BlackArch
1
Legal Deals
Willkie Farr & Gallagher
6
McDermott Will & Emery
2
Bracewell
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)
27%
13 (27%)
Strategic(s)
14%
7 (14%)
Exited to
Investor(s)
55%
16 (55%)
Strategic(s)
24%
7 (24%)

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 2.1B USD under management.

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