Safe Fleet, a portfolio company of The Sterling Group, has completed the acquisition of FoamPro from Pentair. Sterling formed Safe Fleet as new platform company through the acquisition and combination of ROM Corporation and Specialty Manufacturing in September 2013.
FoamPro designs and manufactures foam pumping systems for fire trucks. The company is based in New Brighton, MN (www.foampro.com). The acquisition of FoamPro’s complements Safe Fleet’s existing foam product line (sold under the FRC brand) and gives the company a market leading position in this end market.
Safe Fleet provides safety-and productivity-oriented components to the emergency vehicle, refrigerated truck and trailer, utility vehicle, school bus, and transit bus end markets. Brand names include ROM, Bustin, Prime Design, FRC, Specialty Manufacturing (SMI), SpecFlor, Pretoria, Transpec and FoamPro. The company is headquartered in Belton, MO (www.romcorp.com) (www.smiglobal.net).
“Sterling and Safe Fleet management are committed to serving our OEM customers and end users with best in class safety related products,” said Gary Rosenthal, Partner at The Sterling Group. “The addition of the FoamPro line of products to our existing FRC product line deepens our offering and expands our ability to help our customers improve the safety and efficiency of their fleet vehicles.”
FoamPro is the first add-on acquisition for Safe Fleet. Safe Fleet will continue to pursue acquisitions that expand its offering of safety products to both new and existing fleet customers.
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 43 platform companies and numerous add-on acquisitions for a total transaction value greater than $10 billion. The firm was founded in 1982 and is headquartered in Houston (www.sterling-group.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 12-13-13
