Global private equity and venture capital news and research

Sterling Partners grabs majority stake in Desert Industrial X-Ray

3 Apr 2012

Chicago-based private equity firm Sterling Partners has bought a majority stake in non-destructive testing company Desert Industrial X-Ray.

The Texan company provides integrity management solutions for equipment in the oil and gas industry throughout the lifetime of the assets.

Sterling’s investment is the latest in a string of entries into the energy and industrial sector, starting with its purchase of a stake in Liberty Propane in 2003.

Other investments include the 2004 purchase of Atlantic Scaffolding and its 2010 buyout of Gem Mobile Treatment Systems.

Sterling managing director Alan Macksey said, “Our investment in Desert is consistent with our strategy of backing leading companies in growing industries.

“Surging US oil and natural-gas production has increased demand for reliable non-destructive testing of pipelines and midstream infrastructure.

“We look forward to working with the Desert management team to grow the company both organically and through acquisitions, and we have allocated substantial additional capital to support this growth.”

Sterling focuses on investing growth capital in small and mid-market companies in industries with positive long-term trends, such as education, healthcare and business services.

Copyright © 2012 AltAssets

Leave a Reply

You must be logged in to post a comment.

Legals & Terms of UsePrivacy Policy

AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: WeWork 4001, 1 Fore Street, London, EC2Y 5EJ
Content is © AltAssets 2000-2016