MiddleGround Capital Acquires STEMMER IMAGING AG

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

June 15, 2023

Industrial Services

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.

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 Banner Service Corporation (Banner Industries)

December 11, 2019

Industrial Services

MiddleGround Capital has acquired Banner Service Corporation (also referred to as Banner Industries), a leading processor and distributor of precision metal bar products headquartered in Carol Stream, Illinois. The transaction is a control buyout from High Street Capital and is intended to support Banner's organic growth and platform expansion, including add-on acquisitions and further investment in medical-grade metal processing capabilities.

MiddleGround Capital Acquires Megatech from Alfar Capital

February 8, 2023

Manufacturing

MiddleGround Capital has acquired Megatech, a Quebec City–based precision CNC machining and digital manufacturing company, from Alfar Capital. MiddleGround plans to build Megatech into a larger digital manufacturing platform through organic investment and add-on acquisitions while maintaining the company’s precision machining capabilities; Stifel acted as exclusive financial advisor to Megatech and Fasken served as legal counsel to Alfar Capital.

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.

MiddleGround Capital Acquires The L.S. Starrett Company

June 5, 2024

Manufacturing

An affiliate of MiddleGround Capital completed the acquisition of The L.S. Starrett Company, taking the 144-year-old precision tools and metrology manufacturer private. Under the deal, former Starrett shareholders received $16.19 per share; MiddleGround says it will support Starrett in scaling its geographic reach and expanding product offerings.