- The Sterling Group Completes the Sale of Velcon Filters, LLC to Parker Hannifin Corporation
- The Sterling Group Completes the Acquisition of Dexter Axle from Tomkins Industries, Inc.
- The Sterling Group to Sell Velcon Filters, LLC to Parker Hannifin Corporation
- The Sterling Group to Acquire Dexter Axle from Tomkins Industries Inc.
SAN FRANCISCO, HOUSTON and SHELTON, Conn. (October 4, 2005) – Private equity firms Genstar Capital, LLC and The Sterling Group, L.P. today announced that they have finalized the acquisition of Panolam Industries International, Inc. in a transaction valued at $345 million. Management of the purchased organization will also participate in the company’s ownership. With five manufacturing facilities and three distribution centers in the US and Canada, Panolam designs and manufactures decorative laminate panels that serve as durable and economical substitutes for natural surfacing materials such as wood, stone and ceramic. Commercial and residential uses of these laminates include cabinets, countertops, display cases and restaurant furniture. Panolam is based in Shelton, Connecticut. “We’re looking forward to working with Genstar and Sterling …