MiddleGround Capital Completes Second Add-On for Its Alco Platform with Acquisition of Kaddis
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, is thrilled to announce the acquisition of Kaddis Manufacturing Corporation (“Kaddis”) through its portfolio company Alco Manufacturing Corporation (“Alco”). Kaddis is a manufacturer of precision machined components for the fluid system, industrial sensor, medical device, motor and automotive end markets, headquartered in Rochester, NY. “We are truly excited to employ the expanded capabilities of Alco to ultimately grow with and better serve our key customers and markets with valuable, cost effective products and services.” Justin Steil, MiddleGround Managing Director, stated, “Alco has emerged as the buyer of choice for business owners seeking exits in this highly fragmented sector, and we’re confident that bringing Kaddis together with Alco enables the combined business to provide an even more robust offering to its customers.” Kaddis is a manufacturer of precision machined components for the fluid system, industrial sensor, medical device, motor and automotive end markets. MiddleGround makes control equity investments in lower middle market B2B industrial and specialty distribution businesses. MiddleGround works with its portfolio companies to create value through a hands-on operational approach and partners with its management teams to support long-term growth strategies.