Investment Summary

Midwest Growth Partners and Summit Equity Group Invest In Parallel Ag

On April 23, 2021, private equity firms Midwest Growth Partners and Summit Equity Group invested in distribution company Parallel Ag

Investment Highlights
  • This is Midwest Growth Partners’ 1st and Summit Equity Group’s 1st transaction in the Distribution sector.
  • This is Midwest Growth Partners’ 8th and Summit Equity Group’s 3rd transaction in the United States.
  • This is Midwest Growth Partners’ 1st and Summit Equity Group’s 1st transaction in Oklahoma.

Investment Summary

Date 2021-04-23
Target Parallel Ag
Sector Distribution
Investor(s) Midwest Growth Partners
Summit Equity Group
Deal Type Growth Capital

Target

Parallel Ag

Chickasha, Oklahoma, United States
Parallel Ag is a distributor of agricultural equipment, parts, service and support for farmers. Parallel Ag also services fertilizer dealers, custom applicators and the construction industry. Parallel Ag is based in Chickasha, Oklahoma.

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Investor(S) 2

Investor
DESCRIPTION

Midwest Growth Partners is a private equity firm focused on investing in established, growing businesses throughout rural areas across the country. The Firm targets businesses operating in the food, agriculture, manufacturing, and distribution sectors with $4 to $100 million in revenue. Midwest Growth Partners provides a variety of debt and equity capital and seeks to commit $500k to $10 million per investment. Midwest Growth Partners was formed in 2013 and is headquartered in Des Moines, Iowa.


DEAL STATS #
Overall 8 of 15
Sector (Distribution) 1 of 2
Type (Growth Capital) 4 of 7
State (Oklahoma) 1 of 1
Country (United States) 8 of 15
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-19 Incorp

Evansville, Indiana, United States

Incorp is a provider of insulation, scaffolding, and other multi-craft services in electric generation, agricultural, water and water treatment, and pulp and paper facilities. Incorp was founded in 1996 and is headquartered in Evansville, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 East Coast Rigging & Contracting

Laurel, Maryland, United States

East Coast Rigging & Contracting is a full-service provider that offers a large inventory of system scaffold and motorized equipment for a variety of commercial, light industrial, and infrastructure access needs. East Coast Rigging & Contracting was founded in 1991 and is based in Laurel, Maryland.

Buy -
Investor

Summit Equity Group

Des Moines, Iowa, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Summit Equity Group is a private investment group focused on acquiring small to medium-sized private companies with the potential to grow through new ownership. Summit looks for profitable businesses $4 to $12 million of EBITDA and generating $20 to $75 million in revenue. Summit is a generalist investor, but has a preference for companies in basic industries such as manufacturing, value-added distribution, or business services. Summit Equity was formed in 2004 and is based in Des Moines, Iowa.


DEAL STATS #
Overall 3 of 4
Sector (Distribution) 1 of 1
Type (Growth Capital) 1 of 1
State (Oklahoma) 1 of 1
Country (United States) 3 of 4
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-23 Tooling Dynamics

York, Pennsylvania, United States

Tooling Dynamics is a provider of high precision metal stamping as well as design and fabrication of stamping dies for the electronic, medical, automotive, aerospace, military, and solar power industries. Tooling Dynamics was founded in 1982 and is based in York, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-14 HK Solutions Group

Des Moines, Iowa, United States

HK Solutions Group provides water and wastewater infrastructure inspection, cleaning, and repair services, as well as industrial services and wastewater treatment, to customers predominantly in Midwestern states. HK Solutions Group is based in Des Moines, lowa.

Sell -