MiddleGround Capital Announces Acquisition of Megatech
Summary
LEXINGTON, Ky.--(BUSINESS WIRE)--MiddleGround Capital, an operationally focused private equity firm that makes control investments in North American middle market B2B industrial and specialty distribution companies, today announced it has acquired Megatech (the “Company”), a new digital manufacturing platform investment focused on computerized numerical control (“CNC”) machining of highly-complex, highly-precise, low volume engineered parts. The Company leverages simulation, 3D visualization, analytics, and collaboration tools to produce a wide variety of products for over 100 customers utilizing its modern fleet of state-of-the-art equipment. Supported by an efficient Material Requirements Planning (“MRP”) system and by a team of trusted partners and subcontractors, Megatech is able to offer customers quick turnaround times for orders. Our growth to date can be attributed to our employees, equipment, processes and engineering capability along with our ability to provide highly-technical and complex machining capabilities with fast turnaround times.” MiddleGround will look to leverage its resources and expertise to organically and inorganically build a larger platform around Megatech focused on highly-specialized, complex, low-to-medium volume prototyping and production parts in the outsourced manufacturing space with strong revenue tailwinds driven by Industry 4.0 trends. Supported by the latest technology and by a team of trusted partners and subcontractors, Megatech’s mission is to be the best machining shop in Canada, specialized in high precision and complex parts.