The Sterling Group Foundation Fund acquired Slingmax Group, a manufacturer and distributor of engineered lifting, rigging, and rope products. Slingmax is headquartered in Aston, Pennsylvania and develops products used for lifting, pulling, and securing applications.
The company’s vertically integrated operations span product design, manufacturing, and distribution.
Its products serve customers across utilities, power generation, civil and transportation infrastructure, aerospace and defense, marine, mining, construction, working-at-height applications, and other industrial markets.
Slingmax Group is the parent company of Slingmax Rigging Solutions, I&I Sling, and Yale Cordage.
Its portfolio includes synthetic and wire rope slings, high-performance ropes, and related engineered lifting products.
The Sterling Group plans to work with Slingmax’s management team to accelerate growth.
The Foundation Fund focuses on lower-middle-market industrial businesses where Sterling believes its operational experience can support expansion and performance improvements.
Slingmax was previously a portfolio company of River Associates.
Latham & Watkins served as legal advisor to the Foundation Fund, while Piper Sandler advised River Associates.
The Sterling Group manages approximately $9 billion in assets and has sponsored 79 platform company buyouts and numerous add-on acquisitions representing more than $27 billion in aggregate transaction value.
KEY QUOTES:
“We believe Slingmax is the name customers trust when a lift is critical and there is no margin for error. The business is rooted in a commitment to safety and has deep engineering expertise that translates to high-quality performance across an array of end markets.”
Lucas Cutler, Partner of The Sterling Group Foundation Fund
“For decades, our brands have earned the trust of the people who do the heaviest and most demanding work – from riggers and linemen to mariners and working at height, by delivering equipment that performs when it matters most.”
Chris Chrisafides, CEO of Slingmax Group
