MiddleGround Capital Acquires A.M. Castle & Co. and Combines It with Banner Industries

MiddleGround Capital has acquired A.M. Castle & Co. (Castle Metals) and, via a $440 million continuation vehicle (MiddleGround Carbon CV, L.P.), combined Castle with its Banner Industries platform to create a larger specialty metals distribution and processing platform. The transaction brings Castle's global metals processing and distribution footprint together with Banner's precision bar and medical metals capabilities to expand capabilities, geographic reach and end-market exposure in aerospace, industrial and medical sectors.