The business was bought from Gates Canada, a subsidiary of Pinafore Holdings PV. Stackpole was founded in 1952 and was acquired by Gates in 2003. Headquartered in Ancaster, Ontario, the company is a manufacturer and sole source supplier of oil pumps and powdered metal components to automotive original equipment manufacturers (OEMs). Stackpole is a market leader in both oil pumps and powdered metals and its products are specified into powertrain (engine and transmission) platforms that have an average lifecycle of ten to fifteen years. It currently has twelve manufacturing facilities and technical centres in North America, Europe, China and Korea. “The entire management team is thrilled to partner with Sterling to return Stackpole to a standalone business,” said Peter Ballantyne, President and CEO of Stackpole. “Over the next few years, our business will have the opportunity to expand in North America and significantly increase its presence in Europe and Asia. We feel that Sterling’s historical experience in effectively guiding the growth of manufacturing businesses such as ours, as well as their access to capital to support our growth needs, will be tremendous assets for our company.” “We are confident the company will continue to build on its outstanding reputation for consistently manufacturing and delivering critical components,” said Kent Wallace, a Partner of Sterling. The acquisition is Sterling’s second investment in its third fund, an $820 million fund raised in 2010, and is the twentieth corporate carve-out in its 29 year history. Currently, Sterling has companies such as North American Energy Partners, CST Industries, Roofing Supply Group, Universal Fiber Systems, Velcon Filters, Express, B&G Crane and Saxco International in its portfolio.
