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The Sterling Group, L.P. Completes Acquisition of Universal Fiber Systems, LLC | 10/26/07
The Sterling Group, L.P. Completes Acquisition Of Hudson Products Corporation | 12/8/06
North American Energy Partners Completes Initial Public Offering | 11/28/06
The Sterling Group, L.P. Announces Acquisition of BTEC Turbines LP | 9/29/06
The Sterling Group, L.P. Completes Acquisition of Roofing Supply Group | 6/9/06
The Sterling Group, L.P. Announces Acquisition of CST Industries, Inc. | 8/11/06
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Panolam Industries Completes Acquisition of Nevamar to Form Premier Decorative Laminates Company | 3/1/06
North American Energy Partners Announces Third Quarter Results (pdf) | 3/1/06
Francis T. Carr Joins the Sterling Group | 10/31/05
The Sterling Group Completes Sale of Exopack | 10/17/05
Genstar Capital, Sterling Group Complete Acquisition of Panolam Industries | 10/04/05
The Sterling Group Closes $470 Million Private Equity Fund | 5/25/05
Houston Business Journal Profile of The Sterling Group (pdf)
News
Hudson Products Holdings, Inc. Completes the Acquisition of Smithco Engineering, Inc. and Metal Services, Inc.
Houston, TX (June 15, 2007) - Hudson Products Holdings, Inc. (Hudson), a global manufacturer of air-cooled heat exchangers and axial-flow fans, announced today that it has closed the acquisition of Smithco Engineering, Inc. and Metal Services, Inc., (collectively Smithco). The Sterling Group, L.P., a Houston-based private equity firm, is the majority owner of Hudson.
Smithco, based in Tulsa, Oklahoma, manufactures large-scale air-cooled heat exchangers. Products include both forced and induced-draft heat exchangers which are sold to customers such as oil refineries, gas processors, gas transmission pipelines, power generation plants, utilities and chemical processing plants. Smithco was previously owned by Judy Smith of Laguna Beach, California.
"I am pleased to welcome Smithco to the Hudson family," said Chris Yunkun, CEO of Hudson. "The addition of Smithco broadens Hudson's product offering and market presence. We look forward to working closely with Smithco's management team to enhance both organizations' performance in the air-cooled heat exchanger market."
The acquisition was financed entirely with an extension of Hudson's senior credit facilities. Concurrent with the acquisition, Hudson was able to more favorably re-price its senior credit facility. Debt financing for the transaction was led by BNP Paribas.
About Hudson Products Holdings, Inc.
Hudson is a global heat transfer solutions firm that provides
custom-designed, highly engineered air-cooled heat exchangers and
axial-flow fans, and also offers aftermarket parts and services. Hudson
primarily serves clients in the oil, gas and petrochemical industries.
Hudson is headquartered in Sugar Land, Texas, with manufacturing
facilities in Beasley, Texas; Pombia, Italy; and Monterrey, Mexico.
About The Sterling Group, L.P.
Founded in 1982, The Sterling Group (www.sterling-group.com) 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 30 portfolio
companies and numerous add-on acquisitions for a total transaction value
of approximately $8 billion. Currently, Sterling has $600 million of
committed capital under management through two funds, including Sterling
Group Partners II, L.P. Current portfolio companies include Panolam
Industries International, Inc., North American Energy Partners Inc.
(NYSE: NOA), Propex Inc., CST Industries, Inc., Roofing Supply Group,
LLC, and BTEC Turbines LP.
For additional information, please contact:
The Sterling Group, L.P.
Kevin Garland
(713) 877-8257
kgarland@sterling-group.com