Confluence Advisors, LLC is pleased to announce that it advised Sterling Transport Co., Inc. (“Basic”) in its sale to Grammer Industries, Inc., a portfolio company of Stellex Capital Management.
Sterling is a third-generation family-owned business founded by the Hinton family in 1939. The company has grown into an established transporter of hazardous and specialty chemicals and materials, serving customers in the Southeast, the Midwest, as well as the East Coast and states further West, including Texas.
The combined business will have 22 terminals, 350 tractors, 850 specialty trailers and over 500 drivers and owner-operators who will continue to support more than 2,000 delivery points serving over 500 customers.
“This is an exciting development for Sterling’s customers, drivers and its team of dedicated associates,” said Bart Middleton, CEO of Grammer. “As part of the Grammer family, Sterling will gain access to a broader set of resources which will enable the company to expand its service offering to its loyal customer base.”
Hugh Hinton, CEO of Sterling commented, “Confluence was outstanding to work with and we couldn’t have completed this transaction without their guidance, support and dedication. Their knowledge of the trucking industry, attention to detail and strategic advice was crucial to our success.”
About Sterling Transport Co., Inc.
Sterling Transport is a leading specialized tanker transportation company for liquid propane, liquid butane, natural gas liquids, dry bulk and asphalt markets. The Company serves over 250 customers in the Eastern, Southeastern, Midwestern and Southwestern United States, while recording over 90,000 deliveries and approximately 9 million billed miles annually.
About Grammer Industries, Inc.
Based in Columbus, Indiana, Grammer Industries was founded by Charles “Shorty” Whittington as a niche carrier servicing the agriculture industry by hauling anhydrous ammonia. The Company has grown steadily over time, adding new products and expanding its geographical base. Today, Grammer is the premier provider of bulk hazardous transportation services in the United States. The Company stands on its foundation of safety and unsurpassed customer service as the key components of its longevity and success.
About Confluence Advisors, LLC
Confluence helps business owners maximize the sale of a business or non-core division, raise optimal funding, or acquire a business. With over 80 years of combined deal experience and more than $1.5 billion in transactions, the Confluence team works every day to help companies and their stakeholders through critical business transitions. The above testimonials may not be representative of the experience of other customers and is not a guarantee of future performance or success.