The Sterling Group Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, The Sterling Group has acquired 8 companies. It has also invested in 1 other.

The Sterling Group’s most common sectors for investment aredistribution (16%) and machinery (16%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (44%) and secondary buyout (27%). 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 6 companies. The Firm’s most common exit type is secondary buyout (56%).

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M&A Summary

  • M&A Total Activity73
    • M&A Buy Activity46
    • M&A Sell Activity27
  • Total Sectors Invested 13
  • 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 ≤ '16 '17 '18 '19 '20 '21 T
Buy (2.2/yr) # 35 2 2 2 2 3 46
vol $705M $705M
Sell (2.0/yr) # 17 4 3 2 1 - 27
  73

Most Recent M&A

Company Date Value Type
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 Aftermarket LLC 2020-10-08 - Secondary Buyout
Memphis, Tennessee · www.highlineaftermarket.com
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
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Fencing Supply Group 2021-03-01 Binford Supply LLC 2021-03-02 8
, Texas Balch Springs, Texas · www.binfordsupply.com
Time Manufacturing Co. Inc. 2017-02-06 CPI Products - Bucket Fabrication Business 2020-11-13 4
Waco, Texas · www.versalift.com Port Washington, Wisconsin
Frontline Road Safety 2020-08-03 Apply-A-Line LLC 2020-08-03 3
, United States Pacific, Washington · www.applyaline.com
Time Manufacturing Co. Inc. 2017-02-06 BrandFX Body Co. 2019-11-06 3
Waco, Texas · www.versalift.com Fort Worth, Texas · www.brandfxbody.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
Construction Supply Group 2017-05-03 Carter-Waters LLC 2017-06-30 20
Denver, Colorado · www.constructionsupplygroup.com Kansas City, Missouri · www.carter-waters.co
Construction Supply Group 2017-05-03 Gerdau Construction Products - Five Distribution Branches 2017-05-03 19
Denver, Colorado · www.constructionsupplygroup.com , United States

M&A by Sector

Sector Current # Value All-time # Value
Distribution 1 (6%) - 7 (15%) -
Machinery 3 (17%) - 7 (15%) -
Manufacturing 3 (17%) - 7 (15%) -
Building Materials 3 (17%) - 6 (13%) 345M (49%)
Business Services 3 (17%) - 6 (13%) -
Packaging 1 (6%) - 4 (9%) -
Construction 1 (6%) - 2 (4%) -
Safety/Security 1 (6%) - 2 (4%) -
Automotive - - 1 (2%) 360M (51%)
Aerospace 1 (6%) - 1 (2%) -
Apparel/Textiles - - 1 (2%) -
Furniture - - 1 (2%) -
Plastics 1 (6%) - 1 (2%) -
Total 18 - 46 $705M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 18 (100%) - 43 (93%) 705M (100%)
  Texas 6 (33%) - 10 (22%) -
  Virginia - - 3 (7%) -
  Tennessee - - 3 (7%) -
  New York 1 (6%) - 2 (4%) -
  Missouri 1 (6%) - 2 (4%) -
  Georgia 1 (6%) - 2 (4%) -
  Connecticut - - 2 (4%) 345M (49%)
  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%) -
  Pennsylvania 1 (6%) - 1 (2%) -
  Indiana - - 1 (2%) 360M (51%)
  Minnesota - - 1 (2%) -
  Michigan - - 1 (2%) -
  Louisiana - - 1 (2%) -
  Kansas - - 1 (2%) -
  Iowa - - 1 (2%) -
  California - - 1 (2%) -
  Arizona - - 1 (2%) -
  Alabama - - 1 (2%) -
  Wisconsin - - 1 (2%) -
Canada - - 2 (4%) -
  Ontario - - 1 (2%) -
  Alberta - - 1 (2%) -
Austria - - 1 (2%) -
Domestic 18 (100%) - 43 (93%) 705M (100%)
Cross-border - - 3 (7%) -
Total 18 - 46 $705M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 6 (33%) - 20 (43%) -
Secondary Buyout 6 (33%) - 12 (26%) 345M (49%)
Divestiture 2 (11%) - 6 (13%) 360M (51%)
Consolidation 3 (17%) - 6 (13%) -
Growth Capital 1 (6%) - 1 (2%) -
Venture - - 1 (2%) -
Total 18 - 46 $705M

Exits by Deal Type

Type Total # Value
Secondary Sale 15 (56%) -
Merger 5 (19%) -
Bankruptcy 2 (7%) -
IPO 2 (7%) -
Divestiture 1 (4%) -
Trade Sale 1 (4%) -
Trade Sale - Public Company 1 (4%) -
Total 27 -

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
Investor(s)
24%
11 (24%)
Strategic(s)
13%
6 (13%)
Exited to
Investor(s)
59%
16 (59%)
Strategic(s)
26%
7 (26%)

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