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MiddleGround Capital Closes on $736 Million for Its Current Fund Offerings, Buoyed by Strong Demand From Existing LPs
April 30, 2021 GMT
LEXINGTON, Ky. (BUSINESS WIRE) Apr 30, 2021
MiddleGround Capital, a Kentucky-headquartered, middle market private equity firm that makes control investments in B2B industrial and specialty distribution companies, has closed on $736 million in commitments for a series of funds that includes its flagship fund MiddleGround Partners II, LP; MiddleGround Partners II-X, LP; and Mobility Opportunity Fund, LP. MiddleGround has exceeded its target of $550 million for MiddleGround Partners II, launched in January 2021, due to strong demand from incumbent investors. MiddleGround Fund II-X is a parallel co-investment vehicle which will invest alongside Fund II. The Mobility Opportunity Fund is a dedicated overflow vehicle focused on investments in the future trend
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MiddleGround Capital, an operationally focused private equity firm that makes control investments in North American middle market B2B industrial and specialty distribution companies, is excited to announce the acquisition of Attala Steel Industries ( Attala ). Attala marks MiddleGround s second investment in industrial businesses serving the power and transmission industry. In January 2020, MiddleGround acquired EDSCO Fasteners ( EDSCO ), a leading manufacturer and distributor of foundation anchor bolt cages for power transmission and distribution lines. The acquisition of Attala represents MiddleGround s sixth acquisition of 2020 and tenth deal in MiddleGround Fund I, LP.
Attala is a manufacturer of steel foundation products for utility-scale solar power infrastructure. Attala is a vertically integrated player dedicated to the solar market with a structural steel mill in Mississippi and both fabrication operations and internal galvanizing capabilities in Mississippi and Tex