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News
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.
“Temcor is recognized internationally as a leader in aluminum domes and specialty covers. Its engineering expertise, global selling network, world class manufacturing operations, led by an experienced management team, are a strong fit with CST’s existing businesses,” said Brian Bauerbach, President and CEO of CST. “We look forward to working closely with Temcor’s management team to deliver the best storage and cover products and services to our customers worldwide.”
CST Industries has built an extensive portfolio of brands and products for critical storage requirements. The Temcor acquisition further strengthens CST’s overall position and ability to serve the industry.
CST Industries is a portfolio company of The Sterling Group, L.P.
About CST Industries, Inc.
CST Industries, Inc.,
headquartered in Kansas City, is the global leader in the manufacture
and erection of factory coated metal storage tanks, aluminum domes and
specialty covers. CST’s existing company portfolio consists of
Columbian TecTank, Engineered Storage Products, Conservatek Industries,
Inc. and CST Vulcan, Inc. Manufacturing facilities and technical design
centers are located in Parsons, Kansas; Winchester, Tennessee; DeKalb,
Illinois; Conroe, Texas and the United Kingdom. Regional sales offices
are located throughout North America and in Mexico, Argentina, United
Kingdom, Singapore and Dubai.
About Solis Capital Partners, L.L.C.
Solis Capital Partners, founded in 2002, is a
disciplined and innovative private equity firm focused on the middle
market. Solis favors service and manufacturing companies with enterprise
values ranging from $10 to $100 million, with solid management, strong
business fundamentals, market cycle resilience, a history of
profitability and potential for organic growth.
About The Sterling Group, L.P.
Founded in 1982, The Sterling Group
is a private equity investment firm that targets controlling interests in basic
manufacturing, industrial services and distribution companies. Typical
enterprise values of these companies range from $100 to $500 million.
Sterling has sponsored the buyout of over 35 platform portfolio
companies and numerous add-on acquisitions aggregating a total
transaction value of approximately $8 billion. Currently, Sterling has
$600 million of committed capital under management.
For additional information, please contact:
CST Industries, Inc.
Tony Thill
(913) 621-3700
tthill@tanks.com
Solis Capital Partners, L.L.C.
Craig Dupper
(949) 720-4671
craig@soliscapital.com
The Sterling Group, L.P.
Francis Carr
(713) 341-5739
fcarr@sterling-group.com