M&A Deal Summary

The Sterling Group Acquires Ergotron

On July 7, 2022, private equity firm The Sterling Group acquired furniture company Ergotron from Melrose Industries

Acquisition Highlights
  • This is The Sterling Group’s 2nd transaction in the Furniture sector.
  • This is The Sterling Group’s 44th transaction in the United States.
  • This is The Sterling Group’s 2nd transaction in Minnesota.

M&A Deal Summary
Date 2022-07-07
Target Ergotron
Sector Furniture
Buyer(s) The Sterling Group
Sellers(s) Melrose Industries
Deal Type Divestiture

Target

Ergotron

St. Paul, Minnesota, United States
Ergotron's corporate headquarters in St. Paul, Minnesota.
Ergotron's corporate headquarters in St. Paul, Minnesota.
Ergotron is a designer, manufacturer, and distributor of ergonomic products for use across healthcare, workspace, industrial, and education settings. Ergotron was founded in 1982 and is based in St. Paul, Minnesota.

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Buyer(S) 1

Buyer

The Sterling Group

Houston, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 2.1B USD
Size Large
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 $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.

DEAL STATS #
Overall 47 of 53
Sector (Furniture) 2 of 2
Type (Divestiture) 7 of 7
State (Minnesota) 2 of 2
Country (United States) 44 of 50
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-02 West Star Aviation

East Alton, Illinois, United States

West Star Aviation is a provider of maintenance, repair, and overhaul (“MRO”) and related support services to the business aviation industry. West Star Aviation was founded in 1952 and is based in East Alton, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-19 Gulf Winds

Seabrook, Texas, United States

Gulf Winds is a provider of intermodal transportation solutions, including container drayage, warehousing / transloading, and container storage. Gulf Winds was founded in 1996 and is based in Seabrook, Texas.

Buy -

Seller(S) 1

SELLER

Melrose Industries

London, United Kingdom
Category Company
Founded 2003
Sector Machinery
Employees13,492
Revenue 3.0B GBP (2022)
DESCRIPTION

Melrose is a buyer good manufacturing businesses with strong fundamentals whose performance can be improved. Melrose finances its acquisitions using a low level of leverage, improves the businesses by a mixture of investment and changed management focus, sells them and returns the proceeds to shareholders. Melrose Industries was founded in 2003 and is based in London, the United Kingdom.

DEAL STATS #
Overall 12 of 12
Sector (Furniture) 1 of 1
Type (Divestiture) 12 of 12
State (Minnesota) 1 of 1
Country (United States) 8 of 8
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-05 Nortek Control

Carlsbad, California, United States

Nortek Control is a developer of technology for security, home automation, control, power, AV and entertainment, access control, health, and artificial intelligence (AI) systems for residential and commercial markets. Nortek Control was founded in 1961 and is based in Carlsbad, California.

Sell $285M
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