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  6. MiddleGround Capital Acquires Banner Industries

M&A Deal Summary

MiddleGround Capital Acquires Banner Industries

On January 9, 2018, private equity firm MiddleGround Capital acquired metals/mining company Banner Industries

Acquisition Highlights
  • This is MiddleGround Capital’s 1st transaction in the Metals/Mining sector.
  • This is MiddleGround Capital’s 1st transaction in the United States.
  • This is MiddleGround Capital’s 1st transaction in Illinois.

M&A Deal Summary
Date 2018-01-09
Target Banner Industries
Sector Metals/Mining
Buyer(s) MiddleGround Capital
Deal Type Secondary Buyout

Target

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 1961 and is based in Carol Stream, Illinois.

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Buyer(S) 1

Buyer

MiddleGround Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2018
PE ASSETS 3.7B 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 Amsterdam, Netherlands.

DEAL STATS #
Overall 1 of 23
Sector: Metals/Mining M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 9
State: Illinois M&A 1 of 1
Country: United States M&A 1 of 15
Year: 2018 M&A 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-10 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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