M&A Deal Summary

CMC Acquires Edsco Fasteners

On July 13, 2023, CMC acquired manufacturer Edsco Fasteners from MiddleGround Capital

Acquisition Highlights
  • This is CMC’s 2nd transaction in the Manufacturing sector.
  • This is CMC’s 17th transaction in the United States.
  • This is CMC’s 5th transaction in Texas.

M&A Deal Summary
Date 2023-07-13
Target Edsco Fasteners
Sector Manufacturing
Buyer(s) CMC
Sellers(s) MiddleGround Capital
Deal Type Add-on Acquisition

Target

Edsco Fasteners

Denton, Texas, United States
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

CMC

Irving, Texas, United States
Category Company
Founded 1915
Sector Metals/Mining
Employees13,022
Revenue 8.8B USD (2023)
DESCRIPTION
Entrance to Commercial Metals' corporate headquarters in Irving, Texas.
Entrance to Commercial Metals' corporate headquarters in Irving, Texas.

CMC is a global manufacturer, recycler, marketer and distributor of steel and metal products, related materials and services. CMC was incorporated in 1915 and is based in Irving, Texas.

DEAL STATS #
Overall 19 of 19
Sector (Manufacturing) 2 of 2
Type (Add-on Acquisition) 18 of 18
State (Texas) 5 of 5
Country (United States) 17 of 17
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-20 Tendon Systems

Suwanee, Georgia, United States

Tendon Systems is a provider of post-tensioning, barrier cable, and concrete restoration solutions. Tendon Systems is based in Suwanee, Georgia.

Buy -

Seller(S) 1

SELLER

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 1 of 1
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-31 Megatech

Québec, Quebec, Canada

Megatech is a digital manufacturing platform investment focused on computerized numerical control (“CNC”) machining of highly complex, highly-precise, low-volume engineered parts. Success is attributable to the Company’s employees, equipment, processes, and engineering capability along with a superb MRP system. Megatech was formed in 1992 and is based in Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-31 Xtrac

Thatcham, United Kingdom

Xtrac engages in the design and manufacture of high-performance transmissions for the motorsport and automotive industry. It supplies most of the world’s top motorsport teams in both two and four-wheeled formulae across the globe, from MotoGP to Formula 1. Xtrac was founded in 1984 and is based in Thatcham, United Kingdom.

Buy -
Mergr

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