HOUSTON, Nov. 3, 2016 /PRNewswire/ -- The Sterling Group, a middle market private equity firm based in Houston, Texas, has completed the acquisition of PoolPak International LLC. Headquartered in York, Pennsylvania, PoolPak is a leading manufacturer of dehumidification systems for large athletic pools, natatoriums in schools and universities, commercial pools and hotel/motel leisure pools. PoolPak's high performance dehumidifiers also control high moisture, non-pool, critical environments.
According to PoolPak President Robert Paley, "We're eager to partner with The Sterling Group. Joining this team improves our ability to provide high performance, efficient and cost effective dehumidification solutions to our customers."
The acquisition of PoolPak is consistent with The Sterling Group's plans for additional investment in complementary HVAC products and companies. PoolPak will be operated within The Sterling Group's Specified Air Solutions group of companies.
"PoolPak has over 45 years' experience in dehumidification for indoor pools and other critical applications. It is a natural fit with The Sterling Group's broad portfolio of leadership products that address many unique HVAC applications," said John D. Hawkins, Partner at The Sterling Group and Specified Air Solutions board member.
Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 50 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.2 billion of assets under management. For further information, please visit www.sterling-group.com.
For more information, please contact Franny Jones, Director of Marketing and Investor Relations or access http://sterling-group.com/
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SOURCE The Sterling Group