Clearlake’s Sunbelt Supply Adds-On

Sunbelt Supply, a portfolio company of Clearlake Capital, has acquired Severe Service Specialists (Triple S).

Triple S is a manufacturer’s representative of severe application valves used in extreme temperature, high pressure, abrasive, corrosive, and acidic conditions in power generation, refining, and other industrial applications. The company represents more than 17 valve makers including MOGAS Industries, EBRO, Stafsjo, Marwin Valve, Bestobell, Unitorq and Parker. Triple S is headquartered near Birmingham in Trussville, AL (www.sssvalve.com). Toby Hollier, the president of Triple S, and other members of the founding team of Triple S will remain with the business post-closing.

“Triple S is a great complement to Sunbelt, adding to our global footprint and expanding our valve and automation product portfolio to offer solutions in power generation and refining,” said Scott Jackson, CEO of Sunbelt. “Together with the backing of our sponsor, Clearlake, we look forward to continuing to invest in Sunbelt’s expansion as we provide the best platform for specialty flow control solutions through local technical support teams strategically positioned in leading markets.”

Sunbelt Supply is a specialty supplier of industrial flow control products and technical services to the energy and industrial sectors. Clearlake acquired the company in September 2017 through its buy of FloWorks International from TowerBrook Capital and The Stephens Group. At that time, FloWorks operated through five business segments: Sunbelt Supply, Major, Southwest Stainless & Alloy, J&J Alloys, and J&J Bar Plus. In July 2019, the operations of J&J Alloys and J&J Bar Plus were sold to Houston-based Texas Pipe & Supply with the remaining operations rebranded as Sunbelt Supply.

In the last five years, Sunbelt has added 12 new branches both organically and through add-on acquisitions and today has 29 facilities worldwide in the United States, Canada, Europe, Saudi Arabia, and China and is headquartered in Houston (www.sunbeltsupply.com).

“Sunbelt continues to grow, and adding Triple S is another strong step that deepens the technical expertise Sunbelt offers to customers in key industrial corridors,” said José Feliciano, a managing partner and co-founder of Clearlake. “We are excited about the organic and inorganic growth opportunities we continue to see for Sunbelt, and we remain committed to supporting the company by bringing more resources and relationships, and the power of our O.P.S.® framework, to this great team.” Clearlake’s O.P.S. model stands for operations, people and strategy.

Clearlake has over $9 billion of assets under management and invests in the industrials and energy; software and technology-enabled services; and consumer sectors. In March 2018, Clearlake closed Clearlake Capital Partners V LP with over $3.6 billion in commitments. Fund V exceeded its target and was substantially oversubscribed, reaching its hard cap. The firm was co-founded by José Feliciano and Behdad Eghbali in 2006 and is headquartered in Santa Monica, CA (www.clearlake.com).

© 2019 Private Equity Professional | August 27, 2019

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