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 …

Posted in Closing | Tagged , | Leave a comment

The Sterling Group Completes the Sale of Roofing Supply Group, LLC

HOUSTON, TEXAS (May 31, 2012) – The Sterling Group, a middle market private equity firm based in Houston, Texas, today announced that they have finalized the sale of Roofing Supply Group, LLC (“RSG”) to funds managed by Clayton, Dubilier & Rice, LLC (“CD&R”).  RSG is the fourth largest distributor of roofing supplies and related materials in the United States, with 59 locations in 24 states.  Terms of the transaction were not disclosed. RSG has grown significantly in recent years, driven by strategic and operational initiatives undertaken by The Sterling Group in partnership with management. Since Sterling acquired RSG from its founders in 2006, EBITDA increased by more than 50% despite a record decline in housing starts that has yet to …

Posted in News, Sale | Tagged , , | Leave a comment

Velcon Filters, LLC, a Portfolio Company of The Sterling Group, Completes Acquisition of Warner Lewis GmbH

COLORADO SPRINGS, CO (May 1, 2012) – Velcon Filters, LLC, a  manufacturer of industrial filtration systems, today announced that it has acquired Warner Lewis GmbH. Velcon is a portfolio company of The Sterling Group, a middle market private equity firm based in Houston, Texas, and was acquired in 2009 as a platform to execute a buy-and-build strategy. Headquartered in Kelsterbach, Germany with locations in Phillipsburg, Germany; Farnborough, UK; Paris, France; and Dubai, UAE; Warner Lewis offers aircraft refueling solutions to customers in Europe, the Middle East and Africa (“EMEA”).  Warner Lewis has been a strategic business partner of Velcon for over 40 years distributing Velcon’s line of products, in addition to manufacturing its own standard or custom vessels, pit-boxes and …

Posted in Acquisition, News | Tagged , , | Leave a comment