M&A Deal Summary

MiddleGround Capital Acquires New Eagle

On November 1, 2021, private equity firm MiddleGround Capital acquired technology hardware company New Eagle

Acquisition Highlights
  • This is MiddleGround Capital’s 1st transaction in the Technology Hardware sector.
  • This is MiddleGround Capital’s 9th transaction in the United States.
  • This is MiddleGround Capital’s 4th transaction in Michigan.

M&A Deal Summary

Date 2021-11-01
Target New Eagle
Sector Technology Hardware
Buyer(s) MiddleGround Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

New Eagle

Ann Arbor, Michigan, United States
New Eagle provides proprietary hardware and software technology solutions that are mission-critical for the development of mechanical control systems for a variety of applications, including autonomous and electric vehicles. New Eagle was founded in 2008 and is based in Ann Arbor, Michigan.

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Buyer(S) 1

Buyer

MiddleGround Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2018
PE ASSETS 3.7B 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 10 of 23
Sector: Technology Hardware M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 4 of 11
State: Michigan M&A 4 of 4
Country: United States M&A 9 of 15
Year: 2021 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-25 Plasman

Oldcastle, Ontario, Canada

Plasman is a designer and manufacturer of Class A exterior trim products and sub-systems to a variety of OEM and Tier 1 customers. Plasman offers fully integrated design, engineering, tooling, molding, finishing (painting and chroming), and assembly capabilities. Plasman was founded in 1978 and is based in Oldcastle, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-05 Lindsay Precast

Canal Fulton, Ohio, United States

Lindsay Precast is a designer and manufacturer of engineered precast concrete structures for water/wastewater, utility, solar, transportation, and government end markets. Lindsay Precast produces sanitary and storm sewer products, electrical and telecom utility products, solar inverter skids and ballast bases, box culverts and bridge products, and various other products, for its diverse customer base that includes state and municipal government entities, utility companies, renewable energy companies, and the federal government. Lindsay Precast is based in Canal Fulton, Ohio.

Buy -