Sterling Investment Partners, a Westport, Conn.-based middle-market private equity firm investing in distribution and business services companies, has closed its Sterling Investment Partners IV LP with $934 million in capital commitments, which exceeded the firm’s $900 million fundraising target.
In 30 years, Sterling has overseen the investment of over $2.6 billion of equity across 39 platform investments and 130 add-on acquisitions and several greenfield expansions. To date, Sterling has led the investment of approximately $568 million of equity, including $250 million from SIP IV, into three SIP IV portfolio companies: Anser Advisory, Camp Facility Services and Kendall Vegetation Services & Xylem Tree Experts.
“SIP IV continues Sterling’s strategy of partnering with dynamic middle market distribution and business services companies with the objective of building industry-leading platforms,” comments James Soldano, partner.
Simpson Thacher & Bartlett LLP was counsel to SIP IV. Eaton Partners acted as global placement agent.