July 2012 - Kansas City, MO - TGP Investments, LLC, the manager of private equity investment fund TGP Capital Partners LLC, is pleased to announce that the fund has completed a growth equity investment in Lenexa, Kansas-based CST Industries, Inc. (“CST”), a leading supplier of storage tanks and related products.
CST is the leading manufacturer of epoxy and glass-fused-to-steel coated bolted and high-end factory welded storage tanks and aluminum geodesic domes and covers with six manufacturing facilities in the U.S. and Europe. With an operating history of over 100 years and venerable brand names that include Aquastore, Columbian TecTank, Conservatek, Harvestore, Slurrystore, and Temcor (among others), CST serves a diverse range of end-markets. The company’s products serve water and wastewater, petrochemical, power generation, minerals and mining, bio energy, industrial bulk and liquid, agricultural and other storage applications. For more background on the company and its products, please visit CST’s corporate website.
TGP invested in the company alongside majority owner The Sterling Group of Houston, Texas and other existing shareholders as part of a series of comprehensive recapitalization transactions.
Eric Graham, TGP Managing Director, stated “At TGP, we aim to partner with world-class senior management teams and we feel like that is exactly what we have done in this case. CEO Declan McLaughlin and his team have a number of tremendous growth opportunities in front of them and we feel that our equity investment helps provide CST with added balance sheet flexibility that will enable it to take maximum advantage. We are pleased to have the opportunity to work with Sterling, moving rapidly to take advantage of an attractive financing environment for all parties involved.”
About TGP Capital Partners, LLC
Kansas City-based TGP Capital Partners, LLC is a $56.5 million private equity investment fund formed to make investments in well-managed, profitable and growing middle-market companies. TGP considers itself to be a sponsor of top-quality managers and management teams with a goal of supporting and facilitating management’s growth initiatives and, as a result, maximizing returns for all shareholders. The fund seeks to make both control and minority equity investments in partnership with proven management talent in manufacturing and business services companies with revenues generally between $15 million and $100 million.