The Sterling Group has completed its acquisition of ProcessBarron, a provider of air and material handling equipment. Sterling acquired the business from the founding family and management team who are reinvesting alongside Sterling in the new transaction.
ProcessBarron is a designer, manufacturer, and installer of air, gas, and material handling equipment for a variety of heavy industrial applications in the pulp and paper, iron and steel, utility, cement, lime, wood products, textile, foundry and mining industries. The company’s systems are used to move air, gas, or materials to and from boilers, kilns, and furnaces. Process Barron also offers repair and maintenance services. The company was founded in 1981 and is headquartered south of Birmingham in Pelham, AL (www.processbarron.com).
“Process Barron has a unique value proposition in its niche markets,” said Greg Elliott, Partner at The Sterling Group. “We look forward to working with the Process Barron team to continue to broaden their product offerings and geographical reach to provide value to their customers.”
“Over the past 30 years, Process Barron has provided best in class service and equipment to a variety of process industries,” said Ken Nolen, President of Process Barron. “The entire Process Barron team looks forward to partnering with Sterling to further expand the business.”
The Sterling Group targets controlling interests in basic manufacturing, industrial services and distribution companies that have enterprise values from $100 million to $500 million. Sterling has sponsored the buyout of 46 platform companies and numerous add-on acquisitions for a total transaction value greater than $10 billion. Currently, Sterling has over $1 billion of assets under management through two active funds. Current portfolio companies include CST Industries, Universal Fiber Systems, Express, B&G Crane, Saxco International, Liqui-Box, Dexter Axle, Safe Fleet, Specified Air Solutions and American Bath Group. The firm was founded in 1982 and is headquartered in Houston (www.sterling-group.com).
2015 PEPD • Private Equity’s Leading News Magazine • 5-6-15