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

Alexander Dennis wins award for excellence in international trade

Recipients were nominated and selected by the Department for International Trade, with the awards presented at a gala in Stirling, Scotland by Dr. Liam Fox, Secretary of State for International Trade and President of the Board of Trade.

San Francisco commits to all-electric bus fleet by 2035

Muni is developing “Green Zones” to test current hybrid vehicles and their ability to run only on battery power.

U. of Colo. to host New Flyer battery-electric bus demo

The event will occur on Friday, May 18 from 1 p.m. to 3 p.m. at the university’s Sustainability, Energy, and Environment Complex.

D.C. Metro wins top honors at 2018 APTA Int'l Bus Roadeo

Best Transit Bus Operator, Maintenance Crew, Grand Champion and Customer Service Challenge winners named.

Last chance to apply for METRO's 2018 Innovative Solutions Awards

Applications can be submitted either by the operation or the solutions provider and will be judged by our BusCon Advisory Board, with winners recognized at BusCon’s Award Breakfast on Wednesday, Oct. 3.

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