MiddleGround Capital Acquires PVI Holdings, Inc.

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

June 11, 2024

Industrial Services

MiddleGround Capital has acquired Netherlands-based GMS Instruments and is integrating the business into its PVI Holdings platform through W&O Supply as an add-on. The acquisition expands W&O Supply's instrumentation product offering and service capabilities across maritime, offshore and industrial end markets while providing cross-selling and geographic expansion opportunities.

SunSource Acquires Vytl Controls Group from MiddleGround Capital

February 8, 2026

Industrial Services

SunSource Holdings has completed the acquisition of Vytl Controls Group (formerly PVI Holdings) from MiddleGround Capital; financial terms were not disclosed. Vytl, headquartered in The Woodlands, Texas, operates 32 branches across 11 states with more than 1,100 employees and provides distribution, design, repair and remanufacturing of valves, actuators and other flow control products; the deal broadens SunSource’s flow control solutions capabilities and distribution footprint.

MiddleGround Capital Acquires IT8

March 7, 2024

Engineering Services

MiddleGround Capital, an operationally focused private equity firm, has completed the acquisition of IT8, a Valencia, Spain–headquartered engineering services company specializing in mechanical, electrical, PLC/robot programming, and installation services for line automation and BIW welding lines. MiddleGround plans to leverage IT8's technical capabilities to expand service offerings beyond automotive into intra-logistics, commercial vehicles and aerospace, and to support demand from electrification and other mobility trends.

MiddleGround Capital Acquires STEMMER IMAGING AG

November 5, 2024

Engineering Services

MiddleGround Capital, through its holding company Ventrifossa BidCo AG, completed a voluntary public takeover of STEMMER IMAGING AG, paying EUR 48.00 per share in cash to tendering shareholders. The Lexington-based private equity firm said it will leverage operational improvements and supply-chain optimization to support STEMMER IMAGING's growth and further develop its machine vision technology and services.

Setpoint Integrated Solutions Acquires Valsource International

December 1, 2021

Industrial Services

Setpoint Integrated Solutions, a subsidiary of Pon Holdings B.V., has acquired Houston-based Valsource International, a specialist in control valve and pipeline repair and remanufacturing. The acquisition expands Setpoint’s Gulf Coast footprint and enhances its valve repair and service capabilities for petrochemical, refining and oil & gas customers. Financial terms were not disclosed.

MiddleGround Capital Acquires Pi Innovo as Add-On to New Eagle

February 3, 2026

Automotive

MiddleGround Capital has acquired Pi Innovo from Dana Incorporated and will integrate the company into its portfolio platform, New Eagle. Pi Innovo, headquartered near Detroit, Michigan, develops open-platform electronic control units (ECUs) and embedded control software for electrification, clean-fuel and specialty mobility applications; the deal expands New Eagle's hardware and software controls capabilities across automotive, commercial vehicle and aerospace/defense end markets.