Buyout (LBO, MBO, MBI) • Manufacturing

MiddleGround Capital Acquires Peterson Spring

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

Acquisition Context
  • 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.
Investment Fate
  • Peterson Spring was sold to a strategic buyer in 2023.

Explore All 1610 Buyout (LBO, MBO, MBI) Manufacturing Deals - Search the Database Free


M&A Deal Summary

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

Target Company

Peterson Spring

Three Rivers, 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 Three Rivers, Michigan.
Explore More Deals

Browse All 215,158 Deals

FILTER BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Search Free

Buyer Overview 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 Context for Buyer #
Overall 3 of 23
Sector: Manufacturing 2 of 10
Type: Buyout (LBO, MBO, MBI) 1 of 11
State: Michigan 1 of 4
Country: United States 3 of 15
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 -