M&A Deal Summary

The Sterling Group and TGP Investments Acquire CST Industries

On August 11, 2006, private equity firms The Sterling Group and TGP Investments acquired manufacturer CST Industries

Acquisition Highlights
  • This is The Sterling Group’s 1st and TGP Investments’ 1st transaction in the Manufacturing sector.
  • This is The Sterling Group’s 7th and TGP Investments’ 2nd transaction in the United States.
  • This is The Sterling Group’s 1st and TGP Investments’ 2nd transaction in Kansas.
Investment Fate
  • CST Industries went bankrupt in 2017.
  • CST Industries was sold to a financial buyer in 2018 for 93M USD.

M&A Deal Summary

Date 2006-08-11
Target CST Industries
Sector Manufacturing
Buyer(s) The Sterling Group
TGP Investments
Deal Type Buyout (LBO, MBO, MBI)

Target

CST Industries

Kansas City, Kansas, United States
CST Industries is a manufacturer and erector of factory coated metal storage tanks. CST's product offering includes bolted and factory welded tanks for use in a wide variety of applications, aluminum geodesic domes, and agricultural feed and waste storage systems. CST Industries was established in 1893 and is based in Kansas City.

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Buyer(S) 2

Buyer

The Sterling Group

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

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.


DEAL STATS #
Overall 9 of 53
Sector (Manufacturing) 1 of 5
Type (Buyout (LBO, MBO, MBI)) 6 of 19
State (Kansas) 1 of 1
Country (United States) 7 of 50
Year (2006) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-07 Roofing Supply Group

Dallas, Texas, United States

Roofing Supply Group LLC is a wholesale distributor of roofing supplies and related materials.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-29 BTEC Turbines

Houston, Texas, United States

BTEC Turbines LP is a specializes in the refurbishment, repair, and packaging of large gas-fired turbines. BTEC Turbines has an inventory of these turbines and related plant equipment that can be transported globally for power plant projects.

Buy -
Buyer

TGP Investments

Kansas City, Missouri, United States

Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 57M USD
Size Small
Type Sector Agnostic
DESCRIPTION

TGP Capital Partners is a private equity fund that makes middle-market investments in profitable, growing companies. TGP primarily targets opportunities located in the Midwest US. TGP will consider both control and minority investments in manufacturing and business service companies with annual revenues of $15 to $50 million. Prospective transaction situations include industry consolidations, management buyouts, acquisitions, and growth financings. The fund is managed by TGP Investments, a Kansas City, Missouri based merchant bank.


DEAL STATS #
Overall 2 of 10
Sector (Manufacturing) 1 of 4
Type (Buyout (LBO, MBO, MBI)) 1 of 5
State (Kansas) 2 of 2
Country (United States) 2 of 10
Year (2006) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-01 DaVinci Roofscapes

Lenexa, Kansas, United States

DaVinci Roofscapes LLC is a manufacturer and marketer of plastic synthetic shingles for housing and commercial building markets. The company’s current products mimic the appearance of authentic slate and wood-shake shingles.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-13 Ascend Media

Lee’s Summit, Missouri, United States

Ascend Media is a custom media company. Ascend’s portfolio of clients and their communication objectives are diverse and reflect a broad array of American commerce. Ascend Integrated Media is uniquely positioned to work with companies to develop and produce brand enhancing communications products. The company's highly skilled team of media professionals engages on behalf of the client to create and manage print and digital content associated with marketing, branding and social media initiatives. Ascend Media was founded in 1982 and is based in Lee’s Summit, Missouri.

Buy -