May 7, 2015
Willkie represents Houston-based private equity firm The Sterling Group in its acquisition of Birmingham, Alabama-based Process Equipment, Inc. (Process Barron), a leading provider of custom turn-key air and material handling solutions to a variety of industries.
On May 5, Willkie client The Sterling Group, a Houston-based private equity firm, announced that it has completed the acquisition of Process Equipment, Inc. (Process Barron). Sterling acquired the business from the founding family and management team who are reinvesting alongside Sterling in the new transaction. Headquartered in Birmingham, Alabama, Process Barron is a leading provider of custom turn-key air and material handling solutions to a variety of industries including utility providers and pulp, paperboard, metals and cement producers. The company designs, engineers, fabricates, installs, maintains and repairs equipment critical in powering industrial plants in a variety of end markets. Founded in 1982, The Sterling Group targets controlling interests in basic manufacturing, distribution and industrial services companies. Currently, Sterling has over $1.2 billion of assets under management through two active funds.
The deal was handled by partners Bruce Herzog, Hillel Jacobson and Mark Holdsworth; of counsel William Thomas and Martin Miller and associates Ted Powers, Cheryl Nolan, Michal Flombaum, Garrett Johnston, Kapiljeet Dargan, Isabel Araujo, Amir Ghavi, Aparnaa Saini and Jennifer DiNicola.
