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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CST Industries, Inc. Announces Acquisition of Temcor, Inc.

KANSAS CITY, KS (September 17, 2009) – CST Industries, Inc. (CST), a global leader in the design, manufacture, and installation of storage tanks and covers, today announced that it has acquired Temcor, Inc. from Solis Capital Partners, L.L.C., a Southern California-based private equity firm. Temcor is a leading global provider of specialized aluminum dome structures headquartered in Gardena, California. Temcor designs, manufactures and erects clear-span aluminum domes and specialty covers for energy, infrastructure, water and wastewater applications. Temcor is the largest aluminum dome provider in the world with over 7,500 structures installed in 72 countries on all seven continents. Temcor is a fully integrated cover manufacturer combining proprietary design engineering capabilities, patented technologies, precision manufacturing and in-field domestic erection capabilities. …

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The Sterling Group, L.P. Completes Acquisition of Velcon Filters, LLC

HOUSTON, TX (April 30, 2009) – The Sterling Group, L.P. (“Sterling”), a Houston-based private equity investment firm, today announced that it has completed the acquisition of Velcon Filters, LLC (“Velcon”). The acquisition was financed with equity primarily from Sterling Group Partners II, L.P. and debt financing from BNP Paribas and Amegy Bank of Texas. Velcon, headquartered in Colorado Springs, CO, is a niche manufacturer of filtration systems, including vessels and replacement cartridges, that meet specific requirements for fluid filtration processes in a variety of domestic and international end-markets. Velcon is a global leader in the filtration process for jet fuel delivery, manufacturing products that filter, purify and remove water from jet fuel along the transport chain from the refinery to …

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