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

CHK America completes first tier of GRTC bus stop signage improvements

Tier One modernizes 300 stops along two of GRTC’s busiest routes with each stop receiving upgrades that include new flags with clearly visible route and bus stop numbers as well as eye-level, easy-to-use printed schedule and map information.

Transit management expert to inspire at BusCon 2015 keynote address

The keynote address, “Driving Excellence” will be delivered on Tuesday, Sept. 29, at 11 a.m. by Mark Aesch, CEO of TransPro, a management consultancy that guides transit systems.

Port Authority to realign gates at NYC bus terminal

The changes are aimed at improving bus operations and reducing congestion in the terminal that can stretch back out into the inbound Lincoln Tunnel and beyond.

Mich. BRT plan on track, set for possible 2018 launch

The 8.3-mile route, with a proposed 27 stops, would replace the Capital Area Transportation Authority’s current Route 1 from downtown Lansing to the Meridian Mall. Results from the plan’s environmental assessment study are expected to be shared at a public hearing this fall.

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 resource for managers of class 1-7 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