MiddleGround Capital (PVI Holdings / W&O Supply) Acquires GMS Instruments

MiddleGround Capital Acquires PVI Holdings, Inc.

July 19, 2022

Industrial Services

MiddleGround Capital, an operationally-focused private equity firm, has acquired PVI Holdings, a market-leading flow control distributor that includes Setpoint Integrated Solutions, W&O Supply and A-T Controls. MiddleGround said it will partner with PVI management to invest in organic and inorganic growth, operational improvements and to build a flow-control distribution platform serving marine, chemical and downstream energy end markets.

Gulf Manufacturing (GMI) Acquires Maass Global Group with $40M Support from Main Street Capital

March 19, 2024

Manufacturing

Gulf Manufacturing, LLC (GMI) completed the acquisition of Maass Global Group, combining GMI’s U.S. manufacturing and distribution footprint with Maass’s global flange, forged-bar, pipe and fittings capabilities. Main Street Capital Corporation provided a $40.0 million first-lien senior secured term debt investment and a revolving line of credit to support the transaction and the formation of a new parent, Gulf Manufacturing Holdings, LLC.

Gemspring Capital Acquires Midland Industries

May 5, 2023

Industrial Services

Gemspring Capital Management affiliate has acquired Midland Industries, a Kansas City-based manufacturer and distributor of pipe, valve, and fitting products across North America. Existing investor Wynnchurch Capital sold a stake but retained a minority interest and coinvested alongside Gemspring; financial terms were not disclosed.

OCI Merges with GMS Piling

August 5, 2025

Manufacturing

OCI, a portfolio company of Gemspring Capital (and Grand Valley Holdings per one release), has merged with GMS Piling Products, a Wilkes-Barre, Pennsylvania-based manufacturer of steel micropiles and deep-foundation products. The transaction (terms not disclosed) creates an integrated platform with four U.S. manufacturing facilities, expanding OCI's product portfolio, coast-to-coast capabilities and micropile fabrication capacity.

Kelvin Group / Southfield Capital-backed RD&S Acquires GMS Services

June 4, 2024

HVAC & Mechanical

Kelvin Group, in partnership with Southfield Capital, has completed the acquisition of GMS Services, LLC. The business will be integrated into Kelvin's RD&S unit to expand the platform's commercial refrigeration and HVAC/R service capabilities and geographic footprint across the Mid-Atlantic, Southeast and Great Lakes regions; terms were not disclosed.

Manitowoc Tool & Machining Acquires G&V Machine Company

May 3, 2023

Manufacturing

Manitowoc Tool & Machining, a portfolio company of Midwest Growth Partners, completed the acquisition of G&V Machine Company on May 3, 2023. G&V, an ISO 9001:2015 certified production CNC machining firm based in Ixonia, Wisconsin, supplies complex parts to construction, agriculture, on‑highway trucking, forestry, mining and other OEM industries; the deal expands MTM's capacity, capabilities and end-market reach.