MiddleGround Capital

MiddleGround Capital, established in 2018, is a private equity firm headquartered in Lexington, Kentucky, with an additional office in New York. The company specializes in lower middle market investments, focusing on business-to-business companies in the industrial, manufacturing, and specialty distribution sectors across North America and Europe. MiddleGround Capital makes control equity investments, typically ranging from $25 million to $100 million, in companies with revenues exceeding $75 million and enterprise values up to $250 million, and EBITDA between $15 million and $30 million. The firm is known for its operational approach, drawing from the experience of its team who have worked in and managed businesses of various sizes, from lower middle market to Fortune 500 companies.

Rick Brawn

Managing Director Of Operations

Mike Bridge

Managing Director and Head of Data Operations

John Dotson

Managing Director, Operations

Scot Duncan

Founding Partner

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

Christen Paras

Partner, Co-Head of North American Investment Team

Lindsay Quintero

Vice President, Transaction Team

Erica Richardson

Senior Associate

Marty Sjoquist

Managing Director

Christopher Speight

Partner and CFO

Stan Stanford

Managing Director, Operations

Justin Steil

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

John Stewart

Managing Partner and Co-Founder

Sarah Varghese

Senior Associate

David Walden

Director

Yuji Yokoi

Vice President

Roland Veldhuijzen van Zanten

Vice President, EU Transaction

Past deals in Photography

Stemmer Imaging

Acquisition in 2024
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.

Stemmer Imaging

Private Equity Round in 2024
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.
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