MiddleGround Capital

Stemmer Imaging is a leading provider of machine vision technology in Europe, specializing in image processing solutions for various industries and scientific applications. The company offers a comprehensive range of products, including intelligent cameras, light-emitting diodes, and specialized lenses, as well as image processing systems and connectors. Stemmer Imaging also provides tailored services such as feasibility studies, equipment hire, and customized cabling to support diverse imaging projects. With a strong presence across 19 European countries, the company ensures accessible local consultancy and expert guidance for its customers in sectors such as automotive, electronics, semiconductor, medical imaging, and entertainment.

Helix is a full-service provider of premium electric powertrains that provide access to superior performance for manufacturers of electric and hybrid automobiles, motorbikes, and watercraft.

Stemmer Imaging is a leading provider of machine vision technology in Europe, specializing in image processing solutions for various industries and scientific applications. The company offers a comprehensive range of products, including intelligent cameras, light-emitting diodes, and specialized lenses, as well as image processing systems and connectors. Stemmer Imaging also provides tailored services such as feasibility studies, equipment hire, and customized cabling to support diverse imaging projects. With a strong presence across 19 European countries, the company ensures accessible local consultancy and expert guidance for its customers in sectors such as automotive, electronics, semiconductor, medical imaging, and entertainment.

The L.S. Starrett Company, established in 1880 and headquartered in Athol, Massachusetts, manufactures and sells a diverse range of over 5,000 industrial, professional, and consumer measuring and cutting tools. The company's extensive product lineup includes precision tools, electronic gauges, gage blocks, optical and laser measuring equipment, custom-engineered granite solutions, as well as various saw blades and hand tools like tape measures and levels. Starrett serves multiple markets, including metalworking, aerospace, automotive, and construction, catering to both tradesmen and DIY enthusiasts. Its products are distributed globally through various channels, ensuring a wide availability to meet the needs of its customers in the United States, Canada, Mexico, Brazil, China, the UK, Australia, and New Zealand.

Xtrac Limited is a leading designer and manufacturer of transmission systems, primarily serving the motorsport and high-performance automotive sectors. Founded in 1984, the company is headquartered in Thatcham, United Kingdom, with an additional facility in Indianapolis, Indiana. Xtrac's product offerings include a range of transmission systems for single-seater vehicles, sports cars, rally and off-road vehicles, touring cars, and motorcycles, along with specialized automotive and engineering products. The company is recognized for its commitment to quality and innovation, combining advanced metallurgy, project integration, and control system applications to meet the diverse needs of its international clientele across various industries, including aerospace, defense, and marine.

Castle Metals is a distributor of specialty metals, focusing on sectors such as aerospace, oil and gas, and commercial industries. The company provides a range of metals, including aluminum, carbon, nickel, stainless steel, and various metal alloys. In addition to sourcing and distribution, Castle Metals offers supply chain services and processing capabilities, such as cutting and slitting, to meet the specific needs of its clients. By ensuring efficient supply and tailored solutions, Castle Metals supports its customers in achieving their operational goals in a competitive market.

Advantage Metal Products is a manufacturer of precision metal products and services, primarily serving engineering industries. The company specializes in sheet metal production and offers a range of services including custom fabrication, high precision machining, automated powder coating, and assembly. By utilizing advanced machining technology and systems, Advantage Metal Products ensures quality and efficiency in its operations. The company emphasizes collaboration between engineers at the New Product Introduction (NPI) stage, which helps to optimize the design and manufacturing process, ultimately enhancing product longevity and reducing costs. Additionally, Advantage Metal Products provides inspection and project management services, further supporting its commitment to delivering high-quality metal solutions.

Provider of precision machining services intended of military, aerospace, optomechanics, transportation and bio-medical industries. The company specializes in the milling of small and complex parts with very close tolerances, enabling its clients with on-site surface treatment services such as anodizing, chrome conversion, typography, chemical-based plating and passivation.

SixAxis, LLC is a manufacturer of safety products focused on enhancing worker safety and productivity across various industries. The company produces mobile work platforms, loading platforms, and gangways designed for truck, railcar, and industrial safety applications, marketed under its ErectaStep, RollaStep, and YellowGate brands. Additionally, SixAxis develops sales resource planning software under the Atlatl Software brand. By specializing in innovative designs for stairs, fall protection, and bulk loading solutions, SixAxis aims to mitigate workplace injuries while promoting operational efficiency. The company is headquartered in Andrews, South Carolina, and was co-founded by Rob Honeycutt and Fred Harmon.

HLC is a prominent distributor of bicycles, parts, and accessories in North America, headquartered in Levis, Quebec, and Lexington, South Carolina. The company boasts the largest independent bicycle dealer (IBD) network on the continent, servicing over 5,500 retailers with a team of 70 sales representatives and operating four regional distribution centers. HLC focuses on providing a wide range of cycling and running accessories, equipment, and supplements, aiming to enhance the experience and lives of cyclists and bike riders.

Pon is an automotive company engaged in providing a diverse range of products and services, including equipment and power systems, industrial mobility solutions, and agricultural products. The company operates through various subsidiaries that focus on the import, logistics, marketing, distribution, and maintenance of complementary products. Its portfolio encompasses passenger cars, commercial vehicles, trucks, buses, bicycles, tires, and equipment for road construction and earthmoving. Additionally, Pon offers products related to shipping, offshore operations, transport, and logistics, highlighting its comprehensive approach to mobility and equipment solutions across multiple sectors.

Race Winning Brands is a manufacturer specializing in performance and racing pistons, along with a range of related engine components for the automotive and powersports markets. Headquartered in Ohio, the company employs 280 people at its 150,000 square foot facility and has an additional 190 employees across six global satellite locations. Race Winning Brands provides a diverse array of products, including pistons, piston rings, bearings, gaskets, crankshafts, and other performance components. The company serves a broad customer base that includes professional racers, sportsman competitors, engine builders, automotive enthusiasts, and dealers, distributing its products through various brands across the United States, Canada, Europe, and Asia.

Lindsay Precast is a manufacturer of engineered precast concrete products with operations in Ohio, Colorado, North Carolina, South Carolina, and Washington. The company specializes in serving federal, state, and municipal government entities, as well as the utility and renewable energy sectors. Lindsay Precast produces a range of products, including sanitary and storm sewer systems, electrical and telecom utility components, solar inverter skids, and ballast bases. These offerings are designed to protect essential properties and infrastructures from deterioration due to weather and environmental factors.

Plasman Inc. is a prominent manufacturer and supplier of plastic components for the automotive industry, specializing in both exterior and interior vehicle parts. Founded in 1992 and headquartered in Windsor, Canada, the company provides a wide range of products, including bumpers, fascia, grilles, intake manifolds, air cleaners, and various automotive systems. Plasman serves original equipment manufacturers and Tier-1 customers primarily in North America, with production facilities located in Windsor, Tecumseh, and Tilbury, Canada, as well as a site in Fort Payne, Alabama. The company is known for its fully integrated capabilities, offering design, engineering, molding, finishing, and assembly services. With over 900,000 square feet of plant space, Plasman has established itself as a highly integrated supplier in the plastics industry, ensuring quality and efficiency across its operations.

Arrow Tru-Line, Inc. is a manufacturer and distributor specializing in garage door hardware and related products. Founded in 1970 and headquartered in Archbold, Ohio, the company operates additional facilities in Canada and several U.S. locations, including Texas, Minnesota, and Nevada, as well as having operations in China. Arrow Tru-Line offers an extensive range of products, including metal roll-formed and stamped items such as tracks, struts, springs, cable assemblies, decorative hardware, and rolling door components. The company's products are primarily targeted at the sectional overhead door market, and they are sold through a network of sales representatives. Arrow Tru-Line emphasizes the durability and reliability of its products, catering to the needs of clients in the industry.

DURA Automotive Systems, LLC is an independent designer and manufacturer of automotive components, specializing in a variety of systems for the transportation industry. The company produces mechatronic control systems, including shift-by-wire systems, as well as electronic systems, actuators, and advanced driver assist systems. DURA's offerings extend to lightweight structural body systems, which encompass multi-material closures, and exterior systems such as power window mechanisms and electronic-infused trim. Committed to advancing safe and sustainable mobility, DURA also focuses on innovative technologies like light weighting and human-machine interface integration. Founded in 1914 and headquartered in Auburn Hills, Michigan, DURA has a global presence with offices in multiple countries, including Mexico, Brazil, France, Germany, China, Japan, Korea, India, and Canada. The company faced financial challenges, leading to a Chapter 11 bankruptcy filing in 2019, which was subsequently converted to a Chapter 7 liquidation in December 2020.

Edsco Fasteners LLC is a manufacturer and supplier of anchor bolts and fasteners, primarily serving industries involved in the construction of large steel structures. Established in 1985 and headquartered in Denton, Texas, the company also has offices in Utah, North Carolina, Tennessee, and Indiana. Edsco offers a diverse range of products, including smooth bar bolts, rebar bolts, plates, and various anchoring solutions, all of which are designed to meet the needs of sectors such as energy, communications, transportation, industrial construction, and marine construction. The company 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.

Banner Industries is a value-added metals processor and distributor serving OEMs, and contract manufacturers. Banner Service Corporation (“BSC”) and Banner Medical Innovations (“BMI”). BSC serves a diverse set of industrial customers and steel service centers with applications in irrigation, diesel fuel systems, electric motors, agriculture, aerospace, and auto.

Hartford Finishing they provide e-coating, wet painting, assembly services, and blasting services.

Craft Steel is a manufacturer specializing in metal stamping and fabrication services, catering to a diverse range of industries including agriculture, military, industrial automation, and food processing. The company offers a comprehensive suite of outsourced manufacturing services, which includes laser cutting, tube lasers, NC punch pressing, metal stamping, welding (MIG, TIG, Plasma, Resistance, and Projection), machining (both vertical and horizontal), and various painting techniques such as e-coat, liquid, and powder. Additionally, Craft Steel provides prototype design, mechanical and electro-mechanical assembly, testing, certification, and logistics management. By focusing on low volume metal fabrications and other custom metal solutions, the company aims to deliver cost-effective and reliable services to its clients.

Peterson American Corporation specializes in designing and manufacturing engineered metal products, primarily serving various industries, including automotive, industrial, medical, and heavy equipment. Founded in 1914 and based in Southfield, Michigan, the company offers a diverse range of products, including compression, torsion, and extension springs, as well as snap rings, wire forms, and stampings. Peterson American Corporation caters to both OEMs and aftermarket clients, providing customized components that meet specific operational needs. The company operates internationally, ensuring a broad reach across sectors such as agriculture, lawn and garden, furniture, and motorsports. Known for its commitment to quality and precision, Peterson American Corporation has evolved significantly since its inception, adapting to the demands of modern manufacturing while maintaining a focus on innovation and customer satisfaction.