M&A Deal Summary

MiddleGround Capital Acquires Edsco Fasteners

On January 15, 2020, private equity firm MiddleGround Capital acquired manufacturer Edsco Fasteners from LFM Capital

Acquisition Highlights
  • This is MiddleGround Capital’s 4th transaction in the Manufacturing sector.
  • This is MiddleGround Capital’s 5th transaction in the United States.
  • This is MiddleGround Capital’s 1st transaction in Texas.
Investment Fate
  • Edsco Fasteners was sold to a publicly-traded strategic buyer in 2023.

M&A Deal Summary

Date 2020-01-15
Target Edsco Fasteners
Sector Manufacturing
Buyer(s) MiddleGround Capital
Sellers(s) LFM Capital
Deal Type Secondary Buyout

Target

Edsco Fasteners

Denton, Texas, United States
website
Edsco Fasteners is a manufacturer and distributor of anchor bolt cages for an infrastructure installations. EDSCO’s product offering includes anchor cages, 18J rebar bolts, smooth bar bolts, bolt hardware, plates, and other fabricated products. Edsco Fasteners was founded in 1985 and is based in Denton, Texas.

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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 5 of 18
Sector (Manufacturing) 4 of 8
Type (Secondary Buyout) 3 of 9
State (Texas) 1 of 1
Country (United States) 5 of 13
Year (2020) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-03 Steel Craft

Hartford, Wisconsin, United States

Steel Craft is a contract manufacturer providing fabrication, welding, coating, and stamping services to a diverse range of industrial OEM customers. As a vertically integrated player of scale in highly fragmented market, Steel Craft is a preferred partner to its customer base. Steel Craft was founded in 1976 and is based in Hartford, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-04 Dura

Auburn Hills, Michigan, United States

Dura is a designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. Dura was founded in 1990 and is based in Auburn Hills, Michigan.

Buy -

Seller(S) 1

SELLER

LFM Capital

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2014
PE ASSETS 110M USD
Size Small
Type Sector Agnostic
DESCRIPTION

LFM Capital is a private equity investor focused on acquiring North American manufacturing and industrial services businesses. The Firm looks to invest in lower middle-market companies generating sales of $10 to $150 million and EBITDA between $3 and $15 million. LFM Capital was founded in 2014 and headquartered in Nashville, Tennessee.


DEAL STATS #
Overall 1 of 6
Sector (Manufacturing) 1 of 2
Type (Secondary Buyout) 1 of 4
State (Texas) 1 of 1
Country (United States) 1 of 6
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-09 J&E Precision Tool

Southampton, Massachusetts, United States

J&E Precision Tool manufactures a variety of complex, precision-manufactured products primarily utilized for aerospace and defense applications, from the smallest intricate parts to large multi-component assemblies. J&E Precision Tool was founded in 1979 and is based in Southampton, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-06 PSI

Charlotte, North Carolina, United States

PSI is a manufacturer and assembler of custom electrical control panels and emergency power products. The company's offerings include control panels, low and medium voltage starters, VFD panels, power-metering equipment, transfer switches, and generator tap boxes for Original Equipment Manufacturers (OEM) within a wide variety of commercial and manufacturing industries. PSI was formed in 1961 and is based in Charlotte, North Carolina.

Buy -