Facebook Twitter LinkedIn Google Plus RSS

Sterling Consolidated acquires R.G. Sales Inc.

By

Neptune-based Sterling Consolidated Corp., a supplier of hydraulic and pneumatic seals to the automotive and industrial markets, announced Wednesday the acquisition of R.G. Sales Inc., a supplier of parts to the oil and gas industry.

According to the announcement, R.G. Sales had an average revenue of $827,000 over the last three years.  Sterling expects to add about $700,000-$800,000 in the next year from its acquisition.

"The expansion into western Pennsylvania allows us to increase our market share in the oil and gas sector. Many of these seals are sourced locally and it is advantageous to have a local footprint. This additional revenue should also improve our profit margins." Darren DeRosa, CEO of Sterling Consolidated, said. "We look forward to increasing shareholder value by continuing to execute our plan of strategic acquisitions."

ALSO ON NJBIZ:

Jersey companies honored as best in the nation for diversity

Free market health care: Paying cash for medical services

In speech to business community, Christie says N.J. economy better now than 4 years ago

Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

Leave a Comment

test

Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
View Comment Policy

Comments

close
Subscribe to Our Newsletters!
Click Here to Subscribe for Free Now!