M&A Deal Summary

MiddleGround Capital Acquires Dura

On August 4, 2020, private equity firm MiddleGround Capital acquired automotive company Dura from Patriarch Partners

Acquisition Highlights
  • This is MiddleGround Capital’s 1st transaction in the Automotive sector.
  • This is MiddleGround Capital’s 6th transaction in the United States.
  • This is MiddleGround Capital’s 2nd transaction in Michigan.

M&A Deal Summary

Date 2020-08-04
Target Dura
Sector Automotive
Buyer(s) MiddleGround Capital
Sellers(s) Patriarch Partners
Deal Type Secondary Buyout

Target

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.

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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 6 of 20
Sector (Automotive) 1 of 4
Type (Secondary Buyout) 4 of 9
State (Michigan) 2 of 2
Country (United States) 6 of 13
Year (2020) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-15 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Shiloh

Valley City, Ohio, United States

Shiloh designs and manufactures lightweight products within body structure, chassis and propulsion systems. Shiloh’s multicomponent, multi-material solutions are comprised of a variety of alloys in aluminum, magnesium and steel grades, along with its proprietary line of noise and vibration reducing ShilohCore® acoustic laminate products. Shiloh Industries was founded in 1950 and is based in Valley City, Ohio.

Buy -

Seller(S) 1

SELLER

Patriarch Partners

New York, New York, United States

Investor


Category Private Equity Firm
Founded 2000
Size Large
Type Sector Agnostic
DESCRIPTION

Patriarch Partners is an operationally focused private investment firm focused on acquiring and turning around troubled companies. The Firm will consider opportunities throughout the US and does not have any stated investment preferences. Patriarch Partners was established in 2000 and is headquartered in New York City.


DEAL STATS #
Overall 6 of 12
Sector (Automotive) 1 of 1
Type (Secondary Buyout) 2 of 5
State (Michigan) 1 of 1
Country (United States) 6 of 12
Year (2020) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Oasis International

Columbus, Ohio, United States

Oasis International is a designer, manufacturer, and distributor of clean drinking water products and systems. Oasis offers bottle fillers, drinking fountains, bottle and point-of-use coolers, dehumidifiers, under-sink chillers, and filtration products to municipal and government buildings, schools and universities, hospitals, airports and other transit authorities, offices and residential homes. Oasis International was founded in 1910 and is based in Columbus, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-04 Gorham Paper and Tissue

Gorham, New Hampshire, United States

Gorham targets niche technical markets with a broad portfolio of custom-engineered products including high-quality Specialty Packaging, Converting, Engineered and Printing Papers, Tissue, and Towel. Gorham Paper and Tissue is based in Gorham, New Hampshire.

Sell -