The Sterling Group Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, The Sterling Group has acquired 9 companies.

The Sterling Group’s most common sectors for investment aredistribution (16%) and business services (14%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (36%) and secondary buyout (25%). In total, The Sterling Group has invested in 24 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2012 when it acquired Dexter Axle for $360M.

In the last 3 years, The Sterling Group has exited 5 companies. The Firm’s most common exit type is secondary buyout (50%). The Sterling Group’s largest (disclosed) exit occurred in 2025 when it sold Artisan Design Group for $1.3B.

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M&A Summary

  • M&A Total Activity89
    • M&A Buy Activity53
    • M&A Sell Activity36
  • Total Sectors Invested 17
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 25
  • M&A Advisors 11

The Sterling Group

The Sterling Group L.P.

Nine Greenway Plaza, Suite 2400,
Houston, Texas 77046
United States
(713) 877-8257
www.sterling-group.com

The Sterling Group is a private equity firm focused on acquiring middle-market businesses within basic manufacturing, industrial services, and distribution. Sterling looks for companies valued from $100 to $1000 million with positive cash-flow, strong market positions, and potential to grow. Sterling avoids investments in financial services, real estate, healthcare, or information technology companies. The Sterling Group was formed in 1982 and is based in Houston, Texas.


Investment Criteria

Sectors of Interest: Aerospace, Airlines, Apparel/Textiles, Automotive, Building Materials, Business Services, Chemicals, Construction, Consumer Products, Distribution, Electrical Equipment, Environmental, Furniture, Machinery, Manufacturing, Packaging, Plastics, Safety/Security, Transportation, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 15 -
Investment Size 50 350
Enterprise Value 100 1,000
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (2.6/yr) # 40 4 3 4 2 - 53
vol $705M $705M
Sell (1.4/yr) # 29 2 - - 1 4 36
vol $1.3B $1.3B
  89

Most Recent M&A

Company Date Value Type
West Star Aviation LLC 2025-05-21 - Secondary Sale
East Alton, Illinois · www.weststaraviation.com
PowerGrid Services LLC 2025-05-13 - Secondary Sale
Hartselle, Alabama · www.powergridservices.com
Artisan Design Group LLC 2025-04-14 1.3B USD Trade Sale
Dallas, Texas · www.artisandesigngroup.us
Frontline Road Safety Group LLC 2025-01-30 - Secondary Sale
Denver, Colorado · www.frontlineroadsafety.com
OGD Overhead Garage Door 2024-07-08 - Buyout (LBO, MBO, MBI)
Fort Worth, Texas · www.ogd.com
Russell Landscape LLC 2024-07-02 - Recapitalization
Sugar Hill, Georgia · www.russelllandscapegroup.com
Evergreen North America Industrial Services, Inc. 2024-02-23 - Trade Sale
La Porte, Texas · www.enais.com
B'laster LLC 2023-10-27 - Buyout (LBO, MBO, MBI)
Valley View, Ohio · www.blasterproducts.com
Compost360 2023-08-02 - Consolidation
, United States · www.compost360.com
Premier Tire & Service 2023-05-18 - Consolidation
, United States · www.premiertireandservice.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
White Cap Supply Holdings LLC 2020-08-11 Crimson Steel Supply LLC 2024-04-08 27
Norcross, Georgia · www.whitecap.com Tulsa, Oklahoma · www.crimsonsteelsupply.com
Ergotron, Inc. 2022-07-07 Enovate Medical 2023-10-30 1
St. Paul, Minnesota · www.ergotron.com Murfreesboro, Tennessee · www.enovatemedical.com
White Cap Supply Holdings LLC 2020-08-11 Form Tech Concrete Forms, Inc. 2023-07-05 26
Norcross, Georgia · www.whitecap.com Walled Lake, Michigan · www.formtechinc.com
Evergreen Recycling LLC 2021-06-01 CarbonLite Industries - PET Recycling Facility 2021-06-01 1
Clyde, Ohio · www.evergreentogether.com Los Angeles, California
Greenbridge 2019-03-15 Evergreen Recycling LLC 2021-06-01 1
Mentor, Ohio · www.greenbridge.com Clyde, Ohio · www.evergreentogether.com
Fencing Supply Group 2021-03-01 Binford Supply LLC 2021-03-02 11
Houston, Texas · www.fencingsupplygroup.com Balch Springs, Texas · www.binfordsupply.com
Fencing Supply Group 2021-03-01 Merchants Metals LLC 2021-03-01 10
Houston, Texas · www.fencingsupplygroup.com Atlanta, Georgia · www.merchantsmetals.com
White Cap Supply Holdings LLC 2020-08-11 Construction Supply Group 2020-08-11 25
Norcross, Georgia · www.whitecap.com Denver, Colorado · www.constructionsupplygroup.com
Tangent Technologies LLC 2018-01-01 Bedford Technology LLC 2020-02-01 3
Aurora, Illinois · www.tangentmaterials.com Worthington, Minnesota · www.plasticboards.com

M&A by Sector

Sector Current # Value All-time # Value
Distribution 1 (6%) - 8 (15%) -
Business Services 2 (13%) - 7 (13%) -
Machinery 1 (6%) - 6 (11%) -
Building Materials 1 (6%) - 5 (9%) 345M (49%)
Manufacturing - - 5 (9%) -
Construction 2 (13%) - 4 (8%) -
Packaging 1 (6%) - 4 (8%) -
Automotive 1 (6%) - 2 (4%) 360M (51%)
Aerospace - - 2 (4%) -
Environmental 2 (13%) - 2 (4%) -
Furniture 1 (6%) - 2 (4%) -
Airlines 1 (6%) - 1 (2%) -
Apparel/Textiles - - 1 (2%) -
Chemicals 1 (6%) - 1 (2%) -
Plastics 1 (6%) - 1 (2%) -
Safety/Security - - 1 (2%) -
Transportation 1 (6%) - 1 (2%) -
Total 16 - 53 $705M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 16 (100%) - 50 (94%) 705M (100%)
  Texas 5 (31%) - 12 (23%) -
  Tennessee - - 4 (8%) -
  Ohio 3 (19%) - 3 (6%) -
  Georgia 2 (13%) - 3 (6%) -
  Minnesota 1 (6%) - 2 (4%) -
  Illinois 1 (6%) - 2 (4%) -
  Connecticut - - 2 (4%) 345M (49%)
  Alabama - - 2 (4%) -
  Virginia - - 2 (4%) -
  Colorado - - 2 (4%) -
  Arkansas 1 (6%) - 1 (2%) -
  Nevada 1 (6%) - 1 (2%) -
  Indiana - - 1 (2%) 360M (51%)
  Arizona - - 1 (2%) -
  Wisconsin - - 1 (2%) -
  Oklahoma - - 1 (2%) -
  New York - - 1 (2%) -
  Missouri - - 1 (2%) -
  Michigan - - 1 (2%) -
  Louisiana - - 1 (2%) -
  Kansas - - 1 (2%) -
  Iowa - - 1 (2%) -
  California - - 1 (2%) -
Canada - - 2 (4%) -
  Ontario - - 1 (2%) -
  Alberta - - 1 (2%) -
Austria - - 1 (2%) -
Domestic 16 (100%) - 50 (94%) 705M (100%)
Cross-border - - 3 (6%) -
Total 16 - 53 $705M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 5 (31%) - 19 (36%) -
Secondary Buyout 3 (19%) - 13 (25%) 345M (49%)
Divestiture 3 (19%) - 9 (17%) 360M (51%)
Consolidation 3 (19%) - 9 (17%) -
Growth Capital 1 (6%) - 1 (2%) -
Recapitalization 1 (6%) - 1 (2%) -
Venture - - 1 (2%) -
Total 16 - 53 $705M

Exits by Deal Type

Type Total # Value
Secondary Sale 19 (53%) -
Merger 6 (17%) -
Bankruptcy 4 (11%) -
Trade Sale - Public Company 3 (8%) 1.3B (100%)
IPO 2 (6%) -
Trade Sale 2 (6%) -
Total 36 $1.3B

Top M&A Advisors

Financial Deals
Harris Williams
2
BlackArch
2
Current Capital Partners
1
Legal Deals
Willkie Farr & Gallagher
5
McDermott Will & Emery
3
Latham & Watkins
1

Deal Values

buy # Total
$100M to $1B 2 $705M
TOTAL $705M
Largest Dexter Axle Co., Inc.
$360M (2012-11-01)
sell # Total
> $1B 1 $1.3B
TOTAL $1.3B
Largest Artisan Design Group LLC
$1.3B (2025-04-14)

M&A Connections

Deals
Acquired from
Investor(s)
23%
12 (23%)
Strategic(s)
17%
9 (17%)
Exited to
Investor(s)
53%
19 (53%)
Strategic(s)
31%
11 (31%)

FAQ

When was The Sterling Group founded?

The Sterling Group was founded in 1982.

What type of investor is The Sterling Group?

The Sterling Group is a private equity firm.

Where is The Sterling Group headquartered?

The Sterling Group is headquartered in Houston, Texas.

How much capital does The Sterling Group have under management?

The Sterling Group has 9.0B USD under management.

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