The Sterling Group Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, The Sterling Group has acquired 7 companies. It has also invested in 1 other.

The Sterling Group’s most common sectors for investment are machinery (17%) and manufacturing (17%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (47%) and secondary buyout (24%). 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 9 companies. The Firm’s most common exit type is secondary buyout (54%).

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M&A Summary

  • M&A Total Activity69
    • M&A Buy Activity43
    • M&A Sell Activity26
  • Total Sectors Invested 14
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 18
  • M&A Advisors 6

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 ≤ '15 '16 '17 '18 '19 '20 T
Buy (3.4/yr) # 26 9 2 2 2 2 43
vol $705M $705M
Sell (2.4/yr) # 14 3 4 3 2 - 26
  69

Most Recent M&A

Company Date Value Type
Stripe-A-Zone, Inc. 2020-08-11 - Buyout (LBO, MBO, MBI)
Grand Prairie, Texas · www.stripe-a-zone.com
Frontline Road Safety 2020-08-03 - Buyout (LBO, MBO, MBI)
, United States
Bad Boy, Inc. 2019-12-11 - Growth Capital
Batesville, Arkansas · www.badboymowers.com
Polychem Corp. 2019-03-15 - Buyout (LBO, MBO, MBI)
Mentor, Ohio · www.polychem.com
Process Equipment, Inc. 2019-03-06 - Secondary Buyout
Pelham, Alabama · www.processbarron.com
Saxco International LLC 2019-01-04 - Secondary Buyout
Concord, California · www.saxcointl.com
Artisan Design Group 2018-12-17 - Secondary Buyout
Southlake, Texas · www.artisandesigngroup.us
Specified Air Solutions Holdings LLC 2018-10-02 - Secondary Buyout
Buffalo, New York · www.rg-inc.com
Safe Fleet Holdings LLC 2018-01-09 - Secondary Buyout
Belton, Missouri · www.safefleetsolutions.com
CST Industries, Inc. 2018-01-03 - Secondary Buyout
Kansas City, Kansas · www.cstindustries.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Frontline Road Safety 2020-08-03 Apply-A-Line LLC 2020-08-03 1
, United States Pacific, Washington · www.applyaline.com
Artisan Design Group 2018-12-17 Value Plus Flooring, Inc. 2020-03-03 7
Southlake, Texas · www.artisandesigngroup.us Eagan, Minnesota · www.valueplusflooring.com
Construction Supply Group 2017-05-03 Hub Construction Specialties, Inc. 2020-01-28 21
Denver, Colorado · www.constructionsupplygroup.com San Bernardino, California · www.hubhasit.com
Time Manufacturing Co. Inc. 2017-02-06 BrandFX Body Co. 2019-11-06 2
Waco, Texas · www.versalift.com Fort Worth, Texas · www.brandfxbody.com
Artisan Design Group 2018-12-17 Dixie Carpet Installations, Inc. 2019-10-10 6
Southlake, Texas · www.artisandesigngroup.us Missouri City, Texas · www.dixiecarpet.com
Construction Supply Group 2017-05-03 Construction Materials 2019-10-02 20
Denver, Colorado · www.constructionsupplygroup.com , United States
Lynx FBO Network 2016-09-30 FTC FBO LLC 2019-10-01 5
, United States Morristown, New Jersey · www.ftcfbo.com
Tangent Technologies LLC 2018-01-01 Home & Leisure 2019-09-20 2
Aurora, Illinois · www.tangentusa.com , United States
Tangent Technologies LLC 2018-01-01 Vinyl-Tech 2019-09-20 1
Aurora, Illinois · www.tangentusa.com , United States
Construction Supply Group 2017-05-03 Concrete Accessories & Rentals, Inc. 2019-09-03 19
Denver, Colorado · www.constructionsupplygroup.com Bozeman, Montana · www.concreteacc.com

M&A by Sector

Sector Current # Value All-time # Value
Machinery 3 (19%) - 7 (16%) -
Manufacturing 3 (19%) - 7 (16%) -
Business Services 3 (19%) - 6 (14%) -
Distribution 1 (6%) - 6 (14%) -
Building Materials 1 (6%) - 4 (9%) 345M (49%)
Packaging 1 (6%) - 4 (9%) -
Safety/Security 1 (6%) - 2 (5%) -
Automotive - - 1 (2%) 360M (51%)
Aerospace 1 (6%) - 1 (2%) -
Apparel/Textiles - - 1 (2%) -
Chemicals 1 (6%) - 1 (2%) -
Construction - - 1 (2%) -
Furniture - - 1 (2%) -
Plastics 1 (6%) - 1 (2%) -
Total 16 - 43 $705M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 16 (100%) - 40 (93%) 705M (100%)
  Texas 4 (25%) - 8 (19%) -
  Tennessee 1 (6%) - 3 (7%) -
  Virginia - - 3 (7%) -
  New York 1 (6%) - 2 (5%) -
  Missouri 1 (6%) - 2 (5%) -
  Connecticut - - 2 (5%) 345M (49%)
  Pennsylvania 1 (6%) - 1 (2%) -
  Oklahoma 1 (6%) - 1 (2%) -
  Ohio 1 (6%) - 1 (2%) -
  North Carolina 1 (6%) - 1 (2%) -
  Illinois 1 (6%) - 1 (2%) -
  Colorado 1 (6%) - 1 (2%) -
  Arkansas 1 (6%) - 1 (2%) -
  Indiana - - 1 (2%) 360M (51%)
  Wisconsin - - 1 (2%) -
  Minnesota - - 1 (2%) -
  Michigan - - 1 (2%) -
  Louisiana - - 1 (2%) -
  Kansas - - 1 (2%) -
  Iowa - - 1 (2%) -
  Georgia - - 1 (2%) -
  California - - 1 (2%) -
  Arizona - - 1 (2%) -
  Alabama - - 1 (2%) -
Canada - - 2 (5%) -
  Ontario - - 1 (2%) -
  Alberta - - 1 (2%) -
Austria - - 1 (2%) -
Domestic 16 (100%) - 40 (93%) 705M (100%)
Cross-border - - 3 (7%) -
Total 16 - 43 $705M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 6 (38%) - 20 (47%) -
Secondary Buyout 4 (25%) - 10 (23%) 345M (49%)
Divestiture 2 (13%) - 6 (14%) 360M (51%)
Consolidation 3 (19%) - 5 (12%) -
Growth Capital 1 (6%) - 1 (2%) -
Venture - - 1 (2%) -
Total 16 - 43 $705M

Exits by Deal Type

Type Total # Value
Secondary Sale 14 (54%) -
Merger 5 (19%) -
Bankruptcy 2 (8%) -
IPO 2 (8%) -
Divestiture 1 (4%) -
Trade Sale 1 (4%) -
Trade Sale - Public Company 1 (4%) -
Total 26 -

Top M&A Advisors

Financial Deals
Harris Williams & Co.
2
Houlihan Lokey
1
BlackArch Partners LLC
1
Legal Deals
Willkie Farr & Gallagher LLP
6
Bracewell & Giuliani LLP
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
PE Firm(s)
68%
13 68%
Strategic(s)
32%
6 32%
Exited to
PE Firm(s)
74%
20 74%
Strategic(s)
26%
7 26%

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