In a move that follows several other deals for auto parts makers, the Sterling Group is buying Rom Corp. and Specialty Manufacturing Inc. from private equity firm Century Park Capital Partners.
Belton, Mo.-based Rom manufactures equipment for specialty vehicles, including fire trucks, trailers, utility vehicles and military vehicles.
Specialty Manufacturing, headquartered in Pineville, N.C., supplies bus safety products, interior components and lighting systems to the school, transit and shuttle bus markets. The company’s offerings include roof hatches, interior lighting and panels, overhead parcel racks, stop arms, crossing arms and bumpers.
Los Angeles-based Century Park operated the two companies separately. The firm invests between $10 million and $40 million in deals. The firm’s current portfolio companies include ICM Products Inc., Cirtec Medical Systems LLC and Lynx Grills Inc.
Sterling, headquartered in Houston, is a private equity firm that makes control investments in manufacturing, distribution and industrial services companies. The firm has about $1.2 billion in committed capital under management through three funds. Current portfolio companies include CST Industries, Universal Fiber Systems and B&G Crane.
Harris Williams & Co. advised Rom and Specialty Manufacturing on the deal.
For more on auto parts deals, see “Winners of the Auto Aftermarket.”