Bus

Specialty Manufacturing acquired by private equity group

Posted on October 10, 2013

The Sterling Group, a middle market private equity firm based in Houston, announced that its affiliated investment fund, Sterling Group Partners III LP, has completed the acquisition of ROM Corp. and Specialty Manufacturing Inc. (SMI), combining the businesses through its holding company, Safe Fleet Acquisition Corp.

The investment is Sterling’s fifth investment in its third fund, an $820 million fund raised in 2010. The companies were formerly owned but independently operated and financed by Century Park Capital Partners.

Headquartered in Belton, Miss., the newly combined company provides safety-and productivity-oriented components to the emergency vehicle, truck and trailer, utility vehicle, school bus and transit bus end markets. Together, ROM and SMI maintain a leading market position across the majority of its niche product lines. The company’s value-added products focus on enhancing worker safety and productivity and are characterized by their durability, reliability, and versatility in usage and application.

“We are pleased to partner with Sterling to bring these two companies together, deepen our product offerings, and expand our ability to serve our customers,” said Joe Uebbing, former CEO of SMI and newly appointed CEO of Safe Fleet.




View comments or post a comment on this story. (0 Comments)

More News

Specialty Vehicles partners with trolley manufacturer

Will be the exclusive domestic and international distributor of Brown Industries-manufactured American Heritage trolleys.

Europe's FlixBus considers U.S. expansion

The European long-distance bus service currently operates 1,500 green buses in 26 countries and carried about 40 million passengers in 2017.

Proterra supplies Louisiana's first battery-electric bus fleet

Five Proterra Catalyst E2 vehicles were purchased through the FTA's Low or No-Emission Vehicle Deployment Grant.

Valley Metro, Phoenix award 396-CNG-bus order to New Flyer

The contract, which was supported by FTA funding and includes options for 197 buses over five years.

L.A. Metro expands all-door boarding for key Metro Rapid lines

Riders will be able to board at any door of a bus – front, middle or rear – and will pay their fare by using the TAP fare validator installed at each door.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close