M&A Deal Summary

MiddleGround Capital Acquires Alco

On July 10, 2018, private equity firm MiddleGround Capital acquired manufacturer Alco from Blue Point Capital Partners

Acquisition Highlights
  • This is MiddleGround Capital’s 1st transaction in the Manufacturing sector.
  • This is MiddleGround Capital’s 2nd transaction in the United States.
  • This is MiddleGround Capital’s 1st transaction in Ohio.

M&A Deal Summary
Date 2018-07-10
Target Alco
Sector Manufacturing
Buyer(s) MiddleGround Capital
Sellers(s) Blue Point Capital Partners
Deal Type Secondary Buyout

Target

Alco

Elyria, Ohio, United States
Alco is a manufacturer of precision machined products, including hydraulic hose fittings, air conditioning, and refrigeration couplings, tube fittings, adapters, quick disconnect couplings, and other fluid power components. Alco was founded in 1971 and is based in Elyria, Ohio.

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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 2 of 20
Sector (Manufacturing) 1 of 9
Type (Secondary Buyout) 2 of 9
State (Ohio) 1 of 5
Country (United States) 2 of 13
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-09 Banner Industries

Carol Stream, Illinois, United States

Banner Industries is a processor and distributor of metal bar products for a diverse set of industrial and medical end markets. Banner provides supply chain solutions and a variety of value-added metal processing services, including centerless grinding, chamfering, turning, precision saw cutting, straightening, material ID and full traceability, waterjet cutting, ultrasonic testing, and CNC machining to its OEM, contract manufacturer, and precision machining customers. Banner Industries was founded in 1985 and is based in Carol Stream, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-22 Peterson Spring

Southfield, Michigan, United States

Peterson Spring is a designer and manufacturer of highly engineered springs, wire forms, related components, and sub-assemblies. Peterson Spring was founded in 1914 and is based in Southfield, Michigan.

Buy -

Seller(S) 1

SELLER

Blue Point Capital Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1990
PE ASSETS 1.9B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Blue Point Capital Partners is a middle-market private equity firm focused on investments throughout the US, Canada, and Europe. The Firm looks to commit $10 to $50 million of equity capital in companies generating sales of $30 to $300 million and EBITDA of at least $7 million. Blue Point looks for control investments that arise from management led buyouts, recapitalizaitons, and companies in need of growth capital. Sectors of interest include transportation components, metals processing, plastics, packaging, specialty distribution, environmental, building materials, industrial textiles, transportation/logistics, chemicals, industrial outsourcing, and engineered components. Blue Point will not invest in real estate, restaurants, retail, or companies operating in highly regulated industries. Blue Point Capital Partners was formed in 1990 and has offices in Cleveland, Ohio; Charlotte, North Carolina; and Seattle, Washington.

DEAL STATS #
Overall 27 of 36
Sector (Manufacturing) 5 of 5
Type (Secondary Buyout) 16 of 22
State (Ohio) 7 of 8
Country (United States) 25 of 33
Year (2018) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-05 Selmet

Albany, Oregon, United States

Selmet, Inc. is a manufacturer of complex titanium investment castings for the aerospace and defense industries. Selmet possesses unique capabilities to process titanium and features a product offering that includes engine, airframe and other aircraft and military components. Selmet was founded in 1983 and is based in Albany, Oregon.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-30 Precision Aviation Group

Atlanta, Georgia, United States

Precision Aviation Group is a provider of products and value-added services to the worldwide aerospace and defense industry. With nine locations and more than 260,000-square-feet of sales and service facilities in the United States, Canada, Australia, Brazil, and Singapore, PAG uses its distinct business units and customer-focused business model to serve aviation customers through two business functions – Aviation Supply Chain, and its Inventory Supported Maintenance, Repair and Overhaul services. Precision Aviation Group is headquartered in Atlanta, Georgia.

Sell -
Mergr

Product

Company

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