M&A Deal Summary

The Sterling Group and Ardian Acquire Evergreen North America Industrial Services

On June 20, 2016, private equity firms The Sterling Group and Ardian acquired business services company Evergreen North America Industrial Services from Platform Partners

Acquisition Highlights
  • This is The Sterling Group’s 4th and Ardian’s 20th transaction in the Business Services sector.
  • This is The Sterling Group’s 26th and Ardian’s 34th transaction in the United States.
  • This is The Sterling Group’s 5th and Ardian’s 6th transaction in Texas.

M&A Deal Summary

Date 2016-06-20
Target Evergreen North America Industrial Services
Sector Business Services
Buyer(s) The Sterling Group
Ardian
Sellers(s) Platform Partners
Deal Type Secondary Buyout

Target

Evergreen North America Industrial Services

La Porte, Texas, United States
Evergreen North America Industrial Services is a provider of industrial cleaning services to a range of process industries, including refining, petrochemicals, and utilities. Evergreen North America Industrial Services was founded in 2000 and is based in La Porte, Texas.

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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 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 29 of 49
Sector (Business Services) 4 of 6
Type (Secondary Buyout) 8 of 14
State (Texas) 5 of 12
Country (United States) 26 of 46
Year (2016) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-01 DYK Automotive

Medina, Minnesota, United States

DYK Automotive LLC is an automotive aftermarket distributor.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-30 American Bath Group

Savannah, Tennessee, United States

American Bath Group is a manufacturer of residential, commercial, assisted living, senior care, and premium showroom bathing products. The Company sells its products through wholesale and retail channels to a diverse base of builders, plumbers, general contractors, and individual end-users. ABG's predecessor entity was founded in 1993 and is based in Savannah, Tennessee.

Sell -
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.


DEAL STATS #
Overall 268 of 418
Sector (Business Services) 20 of 35
Type (Secondary Buyout) 84 of 137
State (Texas) 6 of 8
Country (United States) 34 of 59
Year (2016) 16 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-01 Jeld-Wen

Charlotte, North Carolina, United States

Jeld-Wen is a designer, producer and distributor of interior and exterior doors, wood, vinyl and aluminum windows and related products for use in the new construction and repair and remodeling of residential homes and non-residential buildings. Jeld-Wen was founded in 1960 and is based in Charlotte, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-24 The Sun Products

Wilton, Connecticut, United States

The Sun Products Corp. is a manufacturer and marketer of fabric care and household products.

Sell $3.6B

Seller(S) 1

SELLER

Platform Partners

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 800M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Platform Partners is a private holding company that makes investments in small to mid-sized companies with a history of 'operating profitability'. The platform looks for growth situations and seeks to invest up to $75 million of equity capital per transaction. Prospective transaction situations include management-led buyouts of private companies, recapitalization of family-owned companies, and growth capital commitments to pursue strategic acquisitions. The Firm will consider both majority and minority positions. Platform Partners was formed in 2006 and is based in Houston, Texas.


DEAL STATS #
Overall 8 of 13
Sector (Business Services) 2 of 4
Type (Secondary Buyout) 3 of 4
State (Texas) 6 of 9
Country (United States) 8 of 13
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-12 ALM First

Dallas, Texas, United States

ALM First is an investment and financial advisory firm that offers a range of services to financial institutions, primarily credit unions. ALM First was founded in 1995 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-01 General Healthcare Resources

Plymouth, Pennsylvania, United States

General Healthcare Resources is a provider of nurses, therapists, behavioral health specialists, pharmacy personnel and other contingent labor to healthcare organizations and educational facilities across the eastern seaboard. General Healthcare Resources was founded in 1993 and is based in Plymouth, Pennsylvania.

Buy -