Sterling Investment Partners Acquires PROtect, a Leading Provider of Safety, Reliability, Compliance and Risk Management services to Customers across the U.S.

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Nov 12, 2024, 08:00 ET

WESTPORT, Conn., Nov. 12, 2024 /PRNewswire/ -- Sterling Investment Partners ("Sterling") today announced that it has acquired PROtect, LLC ("PROtect," or the "Company"). PROtect management and employees will retain significant equity interests in the Company.

Based in Wichita, KS, PROtect is a prominent provider of safety, reliability, and compliance services, dedicated to helping customers mitigate operational risk. PROtect was founded with the mission of reducing unnecessary risks, such as employee injury, property damage, liability, unplanned downtime, and regulatory non-compliance across all end markets. The Company is led by Founder and CEO Nathan VanderGriend and has built its foundation on decades of practical expertise, evolving to meet the growing and changing needs of essential industries, including chemicals, food & beverage, midstream energy, pharmaceutical, power generation, refining, and renewables. Since inception in 2007, PROtect has expanded its footprint, acquired numerous companies and fostered a workforce of over 550 team members nationwide. The Company offers a comprehensive range of services designed to ensure people, equipment, communities, and the environment are safe, equipment is reliable and compliant, and regulatory compliance is achieved. PROtect is known for its proprietary software programs that address specific industry issues, such as managing data, due dates, and corrective actions. These systems are developed by industry professionals for industry professionals, which accordingly provides high quality, customer-centric, and differentiated service delivery.

"We are thrilled to partner with PROtect," commented Michael Barr, Senior Partner at Sterling. "Safety, reliability and compliance services are non-discretionary, critical requirements for PROtect's customers. Since inception, PROtect has demonstrated its capabilities as an enterprise-level risk management partner with a strong culture, differentiated service delivery model and substantial opportunities ahead to create further value for all stakeholders, including customers and employees." Joe Gault, Partner at Sterling, added, "We share a common vision for the future and are excited to partner with Nathan and team in building this dynamic company. We appreciate PROtect's deep commitment to their employees and the value they bring to clients and communities they serve."

"We are excited for the new partnership with Sterling," commented Nathan VanderGriend, Founder and CEO at PROtect. "Having a partner by our side who has a storied track record of success in supporting and enabling the sustainability and growth of service companies like PROtect is a strategic advantage for our company. From the first time I met the Sterling team, it was clear that there was a mutual and cultural fit. We are confident the new partnership will be positive for our customers, team members, and shareholders."

About Sterling Investment Partners
Sterling Investment Partners is a leading private equity firm that has been building leading middle-market companies for over 30 years with a highly experienced, cohesive team of senior investment professionals. Sterling focuses on control investments in value-added distribution and business services, acquiring businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Over its history, Sterling has completed over 240 transactions, representing over $30 billion in aggregate value, and was recently ranked a Top 10 performing middle market private equity firm globally by Dow Jones-HEC Paris. For more information, visit www.sterlinglp.com.

About PROtect
PROtect is a leading provider of safety, reliability and compliance serving companies in several essential industries including chemicals, food & beverage, midstream energy, pharmaceutical, power generation, refining, and renewables. PROtect provides a range of services all centered around helping our customers manage operational risks including advanced and conventional non-destructive testing (NDT), mechanical integrity, pipeline integrity, environmental, industrial hygiene, safety process safety engineering, rope access and leak detection and repair, and benzene waste operations. PROtect is a team of highly trained, certified, and experienced professionals who are strategically located to efficiently serve our customers with a noticeably different commitment to partnership and service delivery. For more information, please visit www.protect.llc.

Houlihan Lokey, Inc. acted as sell side advisor.

Dechert LLP and Seyfarth Shaw LLP acted as legal counsel and Alvarez & Marsal LLP acted as tax advisor on behalf of Sterling Investment Partners and its affiliates.

SOURCE Sterling Investment Partners