The Sterling Group Completes the Sale of B&G Crane Service to NCSG Crane

HOUSTON, May 27, 2015 /PRNewswire/ -- The Sterling Group, a private equity firm based in Houston, Texas, announced that it has completed the sale of B&G Crane Service ("B&G") to NCSG Crane & Heavy Haul Corporation.  Sterling acquired the business from the second generation family owners in 2010.

Headquartered in New Orleans, Louisiana, B&G specializes in providing fully operated and maintained crane services, heavy rigging and specialty hauling services in the Louisiana Gulf Coast region.  Sterling partnered with the family owners to expand the business into Texas.  During Sterling's ownership, the company's addressable market expanded by over three times. Resulting revenue and EBITDA growth was substantial.

"The Grilletta family had built a market leading, best-in-class business, and we were fortunate to have the opportunity to partner with them to continue to grow the business in Louisiana while also entering the Texas market,"  said Kent Wallace, Partner at The Sterling Group.  "Sterling's strategic and operational approach to investing in family-owned businesses resulted in strong returns for our partners in B&G."

Xavier Grilletta, Operational Advisor at B&G commented, "Over the past several years, The Sterling Group has helped support meaningful growth at B&G and we greatly appreciate their sponsorship and support.  Our family and the entire B&G team is looking forward to our new partnership with NCSG." 

During its 33 year history, Sterling has partnered with thirteen family- or entrepreneur-owned business owners to fundamentally grow and improve North American based industrial businesses. The Sterling Group was advised on the sale by RBC Capital Markets and Bracewell & Guiliani.

About The Sterling Group

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 $500 million. Sterling has sponsored the buyout of 46 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $1.2 billion of assets under management through two active funds. Current portfolio companies include CST Industries, Universal Fiber Systems, Express, Saxco International, Liqui-Box, Dexter Axle, Safe Fleet, Specified Air Solutions, American Bath Group and ProcessBarron.

Past performance is no guarantee of future results and all investments are subject to loss.

SOURCE The Sterling Group