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- 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.
Stackpole International, a Portfolio Company of The Sterling Group, Completes Refinancing
HOUSTON, TEXAS (August 7, 2012) – The Sterling Group announced today that its portfolio company, Stackpole International (“Stackpole”) completed the refinancing of its outstanding debt on August 2, 2012. Stackpole is a manufacturer and sole source supplier of highly-engineered oil pumps and powdered metal components to automotive original equipment manufacturers. Sterling acquired Stackpole on August 2, 2011 from Gates Canada, a subsidiary of Tomkins. Stackpole raised $165 million of senior financing from a syndicate of banks, arranged by RBC and CIBC. The proceeds of the refinancing were used to repay existing outstanding debt, including eliminating all mezzanine debt from the original transaction. The refinancing will result in a reduction of Stackpole’s annual debt interest costs by over 50%. Under Sterling’s …
The Sterling Group Closes $820 Million Fund III
HOUSTON, TX (March 16, 2010) – The Sterling Group, L.P. a Houston based middle-market private equity firm focused on operational value creation, today announced the final closing of Sterling Group Partners III, L.P. (Fund III) at $820 million. Fund III, raised in 10 months and oversubscribed, closed significantly above its $600 million target. It is the successor to Sterling Group Partners II, L.P. (Fund II), a $470 million private equity fund organized in 2005. With the close of Fund III, Sterling has approximately $1.3 billion in committed capital under management. As with previous funds, the objective of Fund III is to create superior returns by acquiring companies with significant opportunities to drive strategic and operational improvements in partnership with management. …
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The Sterling Group Closes $470 Million Private Equity Fund
HOUSTON (May 25, 2005) – The Sterling Group, L.P., a Houston-based private equity firm focused on acquiring North American middle-market manufacturing, industrial service and distribution companies, today announced the final close of Sterling Group Partners II, L.P. (“Fund II”), with aggregate capital commitments of $470 million, including $20 million from the Principals of Sterling. Additionally, The Sterling Group announced the addition of two new members to the Sterling team. Gary Rosenthal, a former Principal with Sterling from 1989 to 1990, has rejoined as a Principal, and Kelly Boots has been named Chief Financial Officer. The Sterling Group founded more than 23 years ago, is one of the oldest private equity firms in the United States. Sterling’s six Partners – Chairman …
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