M&A Deal Summary

MiddleGround Capital Acquires Peterson Spring

On April 22, 2019, private equity firm MiddleGround Capital acquired manufacturer Peterson Spring

Acquisition Highlights
  • This is MiddleGround Capital’s 2nd transaction in the Manufacturing sector.
  • This is MiddleGround Capital’s 3rd transaction in the United States.
  • This is MiddleGround Capital’s 1st transaction in Michigan.

M&A Deal Summary
Date 2019-04-22
Target Peterson Spring
Sector Manufacturing
Buyer(s) MiddleGround Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) P&M Corporate Finance LLC (Financial)
Kerr Russell & Weber (Legal)

Target

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.

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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 3 of 20
Sector (Manufacturing) 2 of 9
Type (Buyout (LBO, MBO, MBI)) 1 of 8
State (Michigan) 1 of 2
Country (United States) 3 of 13
Year (2019) 1 of 2
PREVIOUS 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-03 Steel Craft

Hartford, Wisconsin, United States

Steel Craft is a contract manufacturer providing fabrication, welding, coating, and stamping services to a diverse range of industrial OEM customers. As a vertically integrated player of scale in highly fragmented market, Steel Craft is a preferred partner to its customer base. Steel Craft was founded in 1976 and is based in Hartford, Wisconsin.

Buy -
Mergr

Product

Company

Legal