M&A Deal Summary

MiddleGround Capital Acquires Steel Craft

On June 3, 2019, private equity firm MiddleGround Capital acquired manufacturer Steel Craft

Acquisition Highlights
  • This is MiddleGround Capital’s 3rd transaction in the Manufacturing sector.
  • This is MiddleGround Capital’s 4th transaction in the United States.
  • This is MiddleGround Capital’s 1st transaction in Wisconsin.

M&A Deal Summary
Date 2019-06-03
Target Steel Craft
Sector Manufacturing
Buyer(s) MiddleGround Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

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.

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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 4 of 20
Sector (Manufacturing) 3 of 9
Type (Buyout (LBO, MBO, MBI)) 2 of 8
State (Wisconsin) 1 of 1
Country (United States) 4 of 13
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-22 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.

Buy -
FOLLOWING 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 -
Mergr

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