Author Archives: fjones

The Sterling Group Completes the Acquisitions of ROM Corporation and Specialty Manufacturing, Inc.

HOUSTON, TX (September 30, 2013) – The Sterling Group, a middle market private equity firm based in Houston, Texas, today announced that its affiliated investment fund, Sterling Group Partners III, L.P., has completed the acquisition of ROM Corporation (“ROM”) and Specialty Manufacturing, Inc. (“SMI”), combining the businesses through its holding company, Safe Fleet Acquisition Corp. The investment is Sterling’s fifth investment in its third fund, an $820 million fund raised in 2010. The companies were formerly owned but independently operated and financed by Century Park Capital Partners. Headquartered in Belton, Missouri, the newly combined company provides safety-and productivity-oriented components to the emergency vehicle, truck and trailer, utility vehicle, school bus, and transit bus end markets. Together, ROM and SMI maintain …

Posted in Acquisition, Announcements, Closing, News | Leave a comment

The Sterling Group Completes the Sale of Velcon Filters, LLC to Parker Hannifin Corporation

HOUSTON, TEXAS (November 1, 2012) – The Sterling Group, a middle market private equity firm based in Houston, Texas, today announced that they have finalized the sale of their portfolio company, Velcon Filters, LLC to Parker Hannifin Corporation (NYSE: PH). Terms of the transaction were not disclosed. Headquartered in Colorado Springs, Colorado, Velcon is a niche manufacturer of filtration systems, including vessels and replacement cartridges, which meet specific requirements for fluid filtration processes in a variety of domestic and international end-markets. When Sterling acquired Velcon in 2009 from the founding family, the business was the market leader in the aviation filtration market with a stable base of recurring revenue. Sterling and Velcon together have made three strategic acquisitions over the …

Posted in News | Leave a comment

The Sterling Group Completes the Acquisition of Dexter Axle from Tomkins Industries, Inc.

HOUSTON, TX (November 1, 2012) – The Sterling Group, a middle market private equity firm based in Houston, Texas, today announced that its affiliated investment fund, Sterling Group Partners III, L.P., has completed the acquisition of the Dexter Axle business from Tomkins Industries, Inc., a subsidiary of Pinafore Holdings B.V. The investment is Sterling’s fourth investment in its third fund, an $820 million fund raised in 2010. Dexter is the second business Sterling has acquired from Tomkins in the last fourteen months. Dexter is a leading designer and manufacturer of trailer axle, brake, and suspension assemblies and related replacement parts and components for use primarily in the industrial and utility trailer and RV markets in North America. “For over 50 …

Posted in News | Leave a comment