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Sterling Investment

Private equity

Greenwich · Growth–Late Stage · 27 people tracked

Also known as STERLING INVESTMENT PARTNERS ADVISERS, LLC

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Investment thesis

Sterling Investment Partners positions itself as a go-to middle-market private equity firm concentrating on distribution and business services. It targets recession-resistant segments characterized by secular growth tailwinds, significant fragmentation, and recurring demand dynamics. The firm favors businesses with recurring demand, competitive advantages from scale, technology leadership, and those that compete on a basis other than price, across after-market and MRO parts, building and facilities services, consumables, and essential outsourced services. Sterling takes a patient, long-term, customized approach to each investment, viewing management teams as true partners and working collaboratively to grow companies with GDP-plus growth end markets and strong free cash flow generation.

Source: firm website, verified Sep 29, 2026.

Stage
Growth–Late Stage
Check
$100M – $450M
HQ
Greenwich, US
Instruments
Equity
Founded
1991
AUM
$3.9B
Tracked investments
38
Acquisitions
1

Team · 27 people

from the firm's website & curated & public directories
Bill Macey· Co-Founder & Senior Partnerin
Charles W. Santoro· Co-Founder & Managing Partner
Douglas L. Newhouse· Co-Founder & Senior Advisorin
Dan Yu· Partnerin
David H. Kahn· Senior Managing Director, Business Development
Joseph J. Gault· Senior Partnerin
Michael A. Barr· Managing Partnerin
Alara Degirmenci· Associatein
Arthur Tisi· Managing Director, Technology
Chris Koziel· Vice Presidentin
Danielle Lopez· Accounting & Firm Operations Manager
Drew Bloom· Vice Presidentin
Ethan Michaeli· Vice Presidentin
Julia Newman· Senior Associate, Business Developmentin
Kamil Krzynowek· Controller
Kyle Kology· Associatein
Lisa Haughton· Professional Assistantin
Noah Bishop· Senior Vice Presidentin
Quincy Farmer· Senior Associate
Ruth Lane· Head of Investor Relations
Tom Salama· Vice Presidentin
M. William Macey, Jr.· Executive Officer

What they invest in

from 13 of 38 portfolio companies

Advanced Manufacturing ×5Enterprise Software ×5Logistics & Supply Chain ×5Consumer ×3Cybersecurity ×2FoodTech ×2SaaS ×2AI & Machine Learning ×1

HQs:United States×8

Investments · 38 tracked

founders shown can be your intro path

By year:2024 · 12022 · 12 dated

AIMS Companiesaimscompanies.com

AIMS provides field and industrial services using trained, certified technicians and a national network of facilities, fleet, and personnel to complete customer projects.

Advanced ManufacturingLogistics & Supply Chain

CAMPcamp.comin𝕏

CAMP operates family entertainment venues combining immersive themed experiences, hands-on activities, and toy retail in physical locations.

Consumer

Nikki Kaufman(Founder)in

Co-investorsBLH Venture Partners, LLCBullpen CapitalDisney AcceleratorLerer HippeauMaywic Select InvestmentsReshape+5 more

Cbord Groupcbord.com𝕏

Illumia builds technology for access control, dining, and payments used across education, healthcare, and corporate enterprise environments.

Enterprise SoftwareFoodTechHealthtechSaaS

Co-investorsOak Investment Partners

Cyber Advisorscyberadvisors.comin𝕏

Fortinet develops network security infrastructure including firewalls, secure access platforms, and AI-powered threat protection services for enterprise and hybrid organizations.

Cloud ComputingCybersecurityData & InfrastructureEnterprise SoftwareSaaSSalt Lake City, US

Co-investorsGoldner Hawn

Excelligence Learning Corpexcelligence.comin

Excelligence operates a portfolio of education-focused brands that develop and sell curriculum materials, classroom furniture, learning kits, and creative supplies for early childhood through elementary education.

ConsumerE-commerceEdTech

Co-investorsBrentwood Associates

FCX Performance, Incfcxperformance.com

FCX Performance distributes industrial process flow control products, including DeZURIK and APCO valves, for severe-service industrial applications.

Advanced ManufacturingEnterprise Software

Heartlandheartlandsteel.com

Heartland Steel designs, engineers, and manufactures steel pallet racking systems, mezzanines, stairways, and ladders for warehouse projects.

Advanced ManufacturingLogistics & Supply ChainNew Materials

Co-investorsLFM Capital, LLC

Kenan Advantage Group, Incthekag.com

KAG is a tank truck transporter and logistics provider that hauls specialized freight including fuel, chemicals, food, and industrial products across North America.

Logistics & Supply Chain

Co-investorsLittlejohn

Lipari Foodsliparifoods.cominOct 2022

Lipari Foods is a food distributor and private-label manufacturer that plans assortments, manages cold-chain warehousing and transportation, and provides in-store category and merchandising support for grocery, college and university, convenience, and healthcare retailers.

ConsumerFoodTechLogistics & Supply ChainRetail Tech

Jim Lipari(Founder)inJohn Bazzo(Co-founder)

Co-investorsH.I.G. CapitalLittlejohn

Marconemarcone.comin𝕏

Marcone is a distributor of OEM appliance repair parts, HVAC products, and plumbing supplies serving appliance contracting professionals, major retailers, and property management customers across North America.

Advanced ManufacturingB2B MarketplacesLogistics & Supply ChainSt. Louis, US

Henry Markow(Founder)Peter SzachlewiczinAsterios Satrazemis(Chief Executive Officer)inRay Andrews(Chief Financial Officer)Phil Mause(Chief Commercial Officer)inKate Sberna(Chief Human Resources Officer)

Co-investorsGenstarGraycliff Partners

Protect AIprotectai.cominJul 2024

Protect AI develops security solutions for artificial intelligence systems.

AI & Machine LearningCybersecurityEnterprise SoftwareSeattle, US

Ian Swanson(Founder)inBadar Ahmed(Founder)inDaryan Dehghanpisheh(Founder)

BoardRichard Seewald(Director)inMark Kraynak(Director)inEd Sim(Director)in

Co-investors01 AdvisorsAcrew CapitalAviso Venturesboldstart venturesEvolution Equity PartnersIn-Q-Tel+5 more

Service Logicservicelogic.com

Service Logic is the largest privately held network of HVAC and mechanical services companies in the U.S. and Canada, operating 155 locations across 61 affiliated businesses.

Advanced ManufacturingConstruction TechEnterprise Software

Sivasankaran Somasundaram(Chief Executive Officer)Tom Padilla(Chief Operating Officer)Scott Wulinsky(Chief Financial Officer)Dan Smeaton(Chief Acquisition Officer)Tom Coulbourn(Chief Commercial Officer)Kevin Smith(Chief Information Officer)

Co-investorsLeonard Green

Verdantasverdantas.com

Verdantas is an environmental science and engineering firm that combines environmental consulting with engineering services, describing its work as pairing advanced technology with sustainable innovation.

CleantechClimate TechImpact & Social Good

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Aavid Thermal TechnologiesAll My Sons Moving and StorageAmerican Buildings CompanyAmerican West Restaurant GroupAnserAnser AdvisoryAurora Parts and AccessoriesBanner IndustriesBelnick, IncCambridge International, IncEuro Outlet MallsFairway Group Holdings CorpGPX International TireInterline Brands, IncLazer Spot, IncLipariMarkon SolutionsMiller Heiman, IncMr. GreensPower StopSurveySampling InternationalTidewater Barge LinesUbique GroupWashington Inventory Service, IncXylem Kendall

Exits · 1

1 acquisitions

SurveySampling Internationalacq. by Research Now (merger, later rebranded as Dynata)

Fund performance · per public LP disclosures

as of Mar 2025
FundVintageCommittedNet IRRTVPIDPI
Sterling Investment Partners IV, L.P.LPs: Los Angeles County Employees Retirement Association2020—42.1%1.65x0.35x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

How many investments has Sterling Investment made?
Sterling Investment has 38 tracked investments, 1 of which have exited.
What stage does Sterling Investment invest at?
Sterling Investment invests at the Growth, Late Stage stages.
What is Sterling Investment's typical check size?
Sterling Investment typically writes checks of $100M – $450M.
What sectors does Sterling Investment focus on?
Sterling Investment focuses on Enterprise Software, Logistics & Supply Chain.
Where is Sterling Investment located?
Sterling Investment is headquartered in Greenwich, US.
Who does Sterling Investment co-invest with?
Sterling Investment most often shares deals with Littlejohn, Oak Investment Partners, Evolution Equity Partners, among 26 tracked co-investors.

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