Sterling Investment Partners Invests in Banner Industries, the Leading Distributor to the Semiconductor Market

News provided by

Dec 20, 2023, 08:00 ET

WESTPORT, Conn., Dec. 20, 2023 /PRNewswire/ -- Sterling Investment Partners ("Sterling") today announced that it has invested in Banner Industries ("Banner," or the "Company") in partnership with the family shareholders and the well-established management team. Terms of the transaction were not disclosed.

Founded in 1985, Banner is the leading distributor of specialty engineered high purity and industrial flow components, equipment and services into the semiconductor market, with exposure to numerous other markets, including life sciences and food and beverage. Over the years, the Company has built an international platform with 15 locations, covering the U.S., Singapore, Malaysia and Europe.

"Banner has many compelling growth opportunities," said Bud Richard, CEO of Banner. "We have been discussing a partnership with Sterling for quite some time and we fully believe they are the ideal partner for our company. Sterling clearly shares our vision and they are commiƩed to providing resources needed to take Banner Industries to the next level."

"We first met the Banner team over 18 months ago and have been very impressed with the Company's visionary leadership, comprehensive product lines, industry expertise and strong customer relationships" said Bill Macey, Managing Partner and Co-Founder of Sterling. Michael Barr, Senior Partner of Sterling added, "We believe Banner is particularly well-positioned to benefit from the unprecedented, projected growth in U.S. semiconductor manufacturing. We are very excited to partner with the Banner team."

About Sterling Investment Partners

Sterling Investment Partners is a private equity firm that has been investing in and building middlemarket companies for over 30 years with a highly-experienced, cohesive team of senior investment professionals. Sterling focuses on value-added distributon 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 220 transactions, representing approximately $27 billion in aggregate value. www.sterlinglp.com.

SOURCE Sterling Investment Partners