Sterling Group sells manufacturer Tangent Technologies

The Sterling Group has divested Tangent Technologies, an Aurora, Illinois-based manufacturer specializing in materials for outdoor living, site amenities, structural applications, and marine decking. The acquirer in this transaction is Platinum Equity. Financial terms of the acquisition were not publicly disclosed. This sale marks the conclusion of Sterling Group's ownership of Tangent Technologies. \n\nSterling Group initially partnered with Tangent Technologies in 2018. During the period of Sterling's ownership, Tangent Technologies experienced substantial growth. The company expanded its operations to cater to a broader customer base and penetrate new end markets. \n\nThis strategic expansion resulted in a significant increase in the company's overall size, with reports indicating a more than threefold growth. Tangent Technologies, originally established in 2003, focuses on producing specialized materials, highlighting its niche within the manufacturing sector. \n\nIn connection with the sale, Moelis and Lincoln provided financial advisory services to Tangent Technologies. McDermott Will & Schulte acted as the legal advisor for Tangent Technologies throughout the transaction process. These advisors facilitated the successful execution of the sale to Platinum Equity. \n\nThe acquisition of Tangent Technologies by Platinum Equity indicates a continued interest in specialized manufacturing within the private equity landscape. It suggests that firms are seeking companies with established market positions and growth potential through expansion into new customer segments and end markets. This trend highlights the value placed on operational growth and market diversification strategies in the industrial and manufacturing sectors.