The Sterling Group has sold Tangent to Platinum Equity
Tangent Technologies, LLC
Founded in 2003 and headquartered in Aurora, Illinois, Tangent Technologies (Tangent) is the leading North American manufacturer of premium high-density polyethylene (HDPE) synthetic materials used for outdoor living, site amenities, structural, marine decking and other applications. Tangent is known for its material science innovation, with its products being a leading substitute for traditional building materials like wood, metal and composite alternatives due to their durability, low maintenance and aesthetics. Tangent is in the process of consolidating its manufacturing footprint into a new, state-of-the-art, 1.5-million-square-foot facility in Montgomery, Illinois. For more information, please visit www.tangentmaterials.com.
The Deal
In partnership with Sterling since 2018, Tangent has continued its transformation into a scaled synthetic materials manufacturer by broadening its product applications, expanding commercial opportunities across new customers and end markets and strengthening its manufacturing footprint and capabilities. Sterling and Tangent entrusted Lincoln based on its deep expertise across plastics, building products and industrial manufacturing, extensive relationships with buyers and longstanding history with Tangent, with Lincoln having represented Tangent Technologies in its sale to Sterling in 2018.
Our Perspective
Adam Hunia, Lincoln International Managing Director, commented, “As a leader in HDPE synthetic materials, Tangent has a proven history of using material science innovation to introduce new products targeting large markets that will benefit from material conversion. We have thoroughly enjoyed partnering with Tangent and Sterling on the transaction and look forward to seeing the next chapter of growth.”
The Sterling Group, L.P.
Founded in 1982, The Sterling Group is a private equity and private credit investment firm that targets investments in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies at initial formation range from $100 million to $1 billion. Sterling has sponsored the buyout of 78 platform companies and numerous add-on acquisitions for a total transaction value of over $27 billion. Sterling currently has approximately $9 billion of assets under management. For more information, please visit www.sterling-group.com.
Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $48 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations—a trademarked strategy it calls M&A&O®—acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 30 years, Platinum Equity has completed more than 550 acquisitions. For more information, please visit www.platinumequity.com.
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