Sterling Partners’ Q-Centrix names new CEO

Q-Centrix, a portfolio company of Sterling Partners, said Tuesday that it has hired Milton G. Silva-Craig as its new CEO. The appointment is effective immediately. Silva-Craig replaces Rob Schwager, who is transitioning from CEO to chairman. Previously, Silva-Craig worked at TransUnion’s healthcare business unit where he served as president. Based in Portsmouth, N.H., Q-Centrix is an outsourced provider of healthcare solutions.

Sterling Partners’ Mike Drai Promoted to Principal

Private equity firm Sterling PartnersMike Drai has been promoted from vice president to principal. Drai joined Sterling in 2008 and is a vice president. Prior to Sterling, he worked at GTCR Golder Rauner, Allen & Company and Salomon Smith Barney. He received a BS in finance from University of Illinois and an MBA from Kellogg School of Management.

Sterling’s Desert NDT Acquires T&K Inspection

Full-service nondestructive testing company Desert NDT has acquired T&K Inspection. This is the company’s second acquisition since private equity firm Sterling Partners made its investment in March 2012. Financial terms of the purchase were not disclosed.

Sterling’s Desert NDT Appoints Former Transfield Services CEO

Full-service nondestructive testing company Desert NDT has appointed Larry Ames, former CEO and president of the Americas at Transfield Services as CEO. He succeeds Doug Frey, who will remain involved with the company as a director. Desert NDT is a portfolio company of Sterling Partners, a Chicago-based private equity firm. PRESS RELEASE Desert NDT, LLC, […]

Sterling Partners Acquires Spartan College

Sterling Partners has acquired Spartan College of Aeronautics and Technology, an aviation-maintenance school for training pilots, aviation technicians and nondestructive testing professionals. Terms of the transaction were not disclosed.

Prospect Mortgage Names Former Fannie Mae CEO Michael Williams as Chairman

Prospect Mortgage, a Sherman Oaks, Calif.-based home purchase lender, has appointed Michael Williams, a former president and CEO of Fannie Mae, chairman of its board of directors. Prior to Fannie Mae, Williams held positions at KPMG Peat Marwick and the DuPont Company. Prospect is backed by the private equity firm Sterling Partners.

Foundation Partners Group Appoints Brad Rex as CEO

Foundation Partners Group, an owner and operator of funeral homes and cemeteries in the U.S., has appointed Brad Rex as president and CEO. Rex was mostly recently CEO of his own hospitality consulting company; previously, he was chief customer officer for Hilton Grand Vacations. Foundation is a portfolio company of the Baltimore-based private equity firm Sterling Partners.

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