M&A Deal Summary

MiddleGround Capital Acquires Arrow Tru-Line

On September 21, 2021, private equity firm MiddleGround Capital acquired building materials company Arrow Tru-Line from Sun Capital Partners

Acquisition Highlights
  • This is MiddleGround Capital’s 1st transaction in the Building Materials sector.
  • This is MiddleGround Capital’s 8th transaction in the United States.
  • This is MiddleGround Capital’s 3rd transaction in Ohio.

M&A Deal Summary

Date 2021-09-21
Target Arrow Tru-Line
Sector Building Materials
Buyer(s) MiddleGround Capital
Sellers(s) Sun Capital Partners
Deal Type Secondary Buyout

Target

Arrow Tru-Line

Archbold, Ohio, United States
website
Arrow Tru-Line is a manufacturer of hardware for residential and commercial overhead garage doors. Arrow Tru-Line offers an extensive array of garage door hardware including horizontal and vertical tracks, center bearing supports, hinges, struts, torsion tubes, rollers, brackets and cable assemblies. Arrow Tru-Line was founded in 1970 and is based in Archbold, Ohio.

Search 191,543 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer
DESCRIPTION

MiddleGround Capital is a middle-market private equity firm focused on acquiring North American companies valued up to $500 million. MiddleGround looks to commit $20 to $350 million per transaction and generally pursues investments in fundamentally good businesses that align with its operational expertise. Areas of interest include B2B industrial and specialty distribution. MiddleGround Capital was formed in 2018 and has offices in Lexington, Kentucky and New York City.


DEAL STATS #
Overall 8 of 18
Sector (Building Materials) 1 of 1
Type (Secondary Buyout) 5 of 9
State (Ohio) 3 of 5
Country (United States) 8 of 13
Year (2021) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Shiloh

Valley City, Ohio, United States

Shiloh designs and manufactures lightweight products within body structure, chassis and propulsion systems. Shiloh’s multicomponent, multi-material solutions are comprised of a variety of alloys in aluminum, magnesium and steel grades, along with its proprietary line of noise and vibration reducing ShilohCore® acoustic laminate products. Shiloh Industries was founded in 1950 and is based in Valley City, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-25 Plasman

Windsor, Ontario, Canada

Plasman is a designer and manufacturer of Class A exterior trim products and sub-systems to a variety of OEM and Tier 1 customers. Plasman offers fully integrated design, engineering, tooling, molding, finishing (painting and chroming), and assembly capabilities. Plasman was founded in 1978 and is based in Windsor, Ontario.

Buy -

Seller(S) 1

SELLER

Sun Capital Partners

Boca Raton, Florida, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1995
PE ASSETS 13.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Sun Capital's corporate headquarters in Boca Raton, Florida.
Sun Capital's corporate headquarters in Boca Raton, Florida.

Sun Capital Partners is a large private equity firm focused on leveraged buyouts, equity, debt, and other control investments in North America, Asia, and Europe. Sun looks for businesses that can benefit from the Firm's operating experience including underperformers, turnarounds, and special situations. Target companies typically have $50 million to $1 billion in revenue with strong market positions. Sectors of interest include paper and packaging, food and beverages, metals and mining, automotive after-market parts, consumer products, financial services, healthcare, media and communications, building products, telecommunications, technology, retailing and catalogs, restaurants, manufacturing and industrial. Sun Capital was formed in 1995 and is based in Boca Raton, Florida.


DEAL STATS #
Overall 117 of 124
Sector (Building Materials) 5 of 7
Type (Secondary Buyout) 28 of 30
State (Ohio) 4 of 4
Country (United States) 83 of 87
Year (2021) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-09 Architectural Surfaces Group

Austin, Texas, United States

Architectural Surfaces Group is a distributor of interior building products with strong market positions in highly attractive markets. Its Architectural Surfaces Group segment distributes natural and engineered stone through a national network of distribution centers and showrooms under proprietary brand names such as PentalQuartz and MetroQuartz. Architectural Surfaces Group was founded in 2014 and is based in Austin, Texas.

Buy $411M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-02 Bellrock Property & Facilities Management

Leicester, United Kingdom

Bellrock Property & Facilities Management supplies a range of managed facilities and property services under long-term contracts to a blue-chip client-base spanning the healthcare, education, corporate and retail sectors. Bellrock Property & Facilities Management was founded in 1995 and is based in Leicester, United Kingdom.

Buy -