M&A Deal Summary

MiddleGround Capital Acquires PVI Holdings

On July 19, 2022, private equity firm MiddleGround Capital acquired distribution company PVI Holdings

Acquisition Highlights
  • This is MiddleGround Capital’s 1st transaction in the Distribution sector.
  • This is MiddleGround Capital’s 11th transaction in the United States.
  • This is MiddleGround Capital’s 1st transaction in Louisiana.

M&A Deal Summary
Date 2022-07-19
Target PVI Holdings
Sector Distribution
Buyer(s) MiddleGround Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

PVI Holdings

Baton Rouge, Louisiana, United States
PVI is a flow control distributor focused on serving MRO applications across marine, chemical, downstream energy, and other industrial end markets. PVI provides both third party and proprietary branded products alongside its in-house engineering and repair services. PVI operates three separate business units: Setpoint Integrated Solutions, a distributor of valves, actuators, and instrumentation primarily to the chemical and downstream energy end markets; W&O Supply, a global distributor of technical flow control products and solutions to the global military and commercial maritime markets; and AT Controls, a designer and manufacturer of valves, actuators, and process control accessories for a broad range of industrial end markets.

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Buyer(S) 1

Buyer

MiddleGround Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2018
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
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 12 of 19
Sector (Distribution) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 5 of 8
State (Louisiana) 1 of 1
Country (United States) 11 of 13
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-23 Race Winning Brands

Mentor, Ohio, United States

Race Winning Brands is a designer, manufacturer, and distributor of branded automotive aftermarket and powersports aftermarket products for enthusiast and racing consumers. RWB consists of a 12-brand portfolio of high-performance aftermarket product categories, with applications across a diverse group of automotive and powersports vehicle segments. According to industry research, the enthusiast powersport segment has seen annualized growth of 10-15 percent over the last 18 months with forecasted growth of six to eight percent over the next 12 months. Racing Winning Brands is based in Mentor, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-20 HLC

Lévis, Quebec, Canada

HLC is a leading North American bicycle parts and accessories distributor with a product portfolio of over 21,000 SKUs across 170+ brands. HLC is composed of Lambert and Hawley. The Company distributes to over 5,500 independent bicycle dealers and other OEM manufacturers. Along with traditional distribution capabilities, HLC offers value-added services to its brand partners and customers.

Buy -
Mergr

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