MiddleGround Capital

MiddleGround Capital LLC is a private equity firm founded in 2018 and based in Lexington, Kentucky, with an additional office in New York. The firm focuses on lower middle market investments in North America, specifically targeting business-to-business companies in the industrial, manufacturing, and specialty distribution sectors. MiddleGround Capital typically makes control equity investments ranging from $25 million to $100 million in companies with revenues exceeding $75 million and enterprise values up to $250 million, aiming for businesses with EBITDA between $15 million and $30 million. The firm distinguishes itself through its operational expertise, as its team has substantial experience managing businesses across various market segments, from lower middle market firms to Fortune 500 companies.

Rick Brawn

Managing Director, Operations

Mike Bridge

Managing Director and Head of Data Operations

John Dotson

Managing Director, Operations

Scot Duncan

Founding Partner, Partner, COO and Member of Investment Committee

Reid Freeman

Vice President

Josh Garfunkel

Senior Associate

Troy Gonzales

Director, Operations

Brandon Hamel

Vice President

Robert Jonkers

Managing Director and Head of European Operations Team

Joe Ludwig

Senior Associate, Transaction Team

Tyler May

Vice President

Ryan McComb

Managing Director

Lauren Mulholland

Co-Founder, Partner and Member of the Investment Committee

Kelly Myers

Managing Director, Operations Team

Christen Paras

Partner, Co-Head of North American Investment Team

Lindsay Quintero

Vice President

Erica Richardson

Senior Associate

Marty Sjoquist

Managing Director

Christopher Speight

Partner and CFO

Zach Spencer

Senior Associate

Stan Stanford

Managing Director, Operations

Justin Steil

Partner, Head of Transaction team and Member of the Investment Committee

John Stewart

Founding Partner, Managing Partner, Chief Investment Officer and Member of the Investment Committee

Sarah Varghese

Senior Associate

David Walden

Director

Yuji Yokoi

Vice President

Roland Veldhuijzen van Zanten

Vice President, EU Transaction

4 past transactions

Edsco Fasteners LLC

Acquisition in 2020
Edsco Fasteners LLC, founded in 1985 and based in Denton, Texas, specializes in the manufacture and supply of anchor bolts and fasteners for large steel structures. The company's product offerings include smooth bar bolts, rebar bolts, plates, and various anchoring products, catering to sectors such as energy, communications, transportation, industrial construction, and marine construction. Edsco Fasteners is recognized for its commitment to quality, on-time service, competitive pricing, and the provision of full material certification, which enhances its reputation in the industry. In addition to its headquarters in Denton, the company operates offices in Utah, North Carolina, Tennessee, and Indiana, further supporting its extensive market reach.

Banner Industries

Acquisition in 2020
Banner Industries is a value-added metals processor and distributor based in Carol Stream, Illinois, with additional locations in Strongsville, Ohio, and Charlotte, North Carolina. The company operates through two divisions: Banner Service Corporation (BSC) and Banner Medical Innovations (BMI). BSC produces and supplies precision ground, centerless grinding, turning, and straightened bars made from various materials, including carbon steel, stainless steel, aluminum, brass, and exotic alloys like titanium. In addition to manufacturing, BSC offers several services such as turning, straightening, chamfering, chrome plating, heat treating, and cutting to size. The company serves original equipment manufacturers (OEMs), contract manufacturers, and precision machine customers across diverse industries, including irrigation, diesel fuel systems, electric motors, agriculture, aerospace, and automotive sectors. Banner Industries was incorporated in 1984 and has built a solid reputation for quality and service in the metals processing industry.

Steel Craft

Acquisition in 2019
Steel Craft Corp. is a provider of a broad range of outsourced manufacturing services to a diverse set of customers and end markets. Our process capabilities include laser cutting, tube lasers, NC punch press, metal stamping, NC brake forming, welding (MIG, TIG, Plasma, Resistant and Projection), machining (vertical and horizontal), painting (e-coat, liquid and powder) coupled with mechanical and electro-mechanical assembly, testing, certifying and logistics management.

Peterson Spring

Acquisition in 2019
Peterson American Corporation designs, manufactures, and supplies a wide range of engineered metal products, including various types of springs, rings, wire forms, and stampings. The company's product offerings encompass compression, torsion, and extension springs, as well as snap, transmission, and retaining rings. Additionally, it produces wire forms such as torque rods and clips, along with assemblies, sub-assemblies, and packaging products. Peterson American Corporation serves diverse industries, including automotive, appliance, agriculture, industrial, lawn and garden, medical, furniture, heavy equipment, motor sports, and marine sectors both in the United States and internationally. Founded in 1914 and based in Southfield, Michigan, the company has established a global presence through multiple locations and facilities.
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