Sterling Investment Partners acquires majority equity stake in Georgia-based Lazer Spot
Published 2:48 pm, Friday, November 19, 2010
Sterling Investment Partners, a Westport-based, middle-market private equity firm, announced recently it has completed the acquisition of a majority stake in Lazer Spot, a provider of yard management services and solutions.
The existing owners and co-founder of Lazer Spot and the management team have retained a significant equity stake in the business and will continue to lead the business going forward. Debt financing will be provided by GE Capital and High Point Capital. The debt financing was structured to help support the growth plans envisioned by Sterling and the management team.
Lazer Spot, in Alpharetta, Ga., is a provider of yard management services to major manufacturers, third-party service providers and retailers in the United States. It is the largest dedicated provider of yard management services in the U.S. Lazer Spot now serves 65 customers throughout the U.S. in 120 facilities and 24 states.
Sterling intends to work closely with management and provide ongoing capital and strategic resources to continue to build Lazer Spot in its industry.
Sterling Investment Partners invests in companies with significant competitive strengths and growth potential. Founded in 1991, Sterling has completed investments, strategic or add-on acquisitions, and liquidity events with an aggregate transaction value in excess of $8 billion, representing more than 80 transactions. Sterling maintains a broad industry focus, including professional and business services, manufacturing, transportation and logistics, retail and technology-related businesses.
For more information, go to www.sterlinglp.com.