The Sterling Group, a Houston-based private equity investment firm, has completed the acquisition of a substantial equity interest in Saxco International.
Sterling said that the acquisition was financed with equity from Sterling Group Partners, and debt financing from BNP Paribas and Oaktree Capital Management.
Saxco, headquartered in Horsham, Pennsylvania, is a value-added distributor of rigid packaging products for the wine, spirits and craft beer markets in North America. The company has a broad network of sales offices and distribution facilities across the US, Canada and select international locations.
Saxco was founded in 1936 by members of the Sachs family. Brothers Keith and Herb Sachs will remain in their current management roles of CEO and pPresident, respectively, and will continue to be significant owners in partnership with Sterling.