M&A Deal Summary

MiddleGround Capital Acquires Megatech

On January 31, 2023, private equity firm MiddleGround Capital acquired manufacturer Megatech

Acquisition Highlights
  • This is MiddleGround Capital’s 7th transaction in the Manufacturing sector.
  • This is MiddleGround Capital’s 3rd transaction in Canada.
  • This is MiddleGround Capital’s 2nd transaction in Quebec.

M&A Deal Summary
Date 2023-01-31
Target Megatech
Sector Manufacturing
Buyer(s) MiddleGround Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Stifel, Nicolaus & Co., Inc. (Financial)

Target

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.

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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 15 of 20
Sector (Manufacturing) 7 of 9
Type (Buyout (LBO, MBO, MBI)) 7 of 8
State (Quebec) 2 of 2
Country (Canada) 3 of 3
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-17 SixAxis

Andrews, South Carolina, United States

SixAxis is a North American provider of highly engineered, compliance-driven safe access and productivity solutions across diverse end markets. The Company goes to market via three primary brands SafeRack, ErectAStep, and Upside Innovations, and offers a broad range of differentiated solutions, including OSHA- & MSHA-compliant gangways, bulk loading platform systems, pre-engineered stairs and hand-railing components, and ADA-compliant ramps, stairs, and platforms. SixAxis is based in Andrews, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-13 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.

Sell -
Mergr

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