Hartford Finishing Acquired by MiddleGround Capital
Hartford is one one of the largest industrial powder coaters in the Midwest and also a provider of electrocoating, wet painting and assembly services.
MiddleGround Capital, a private equity firm in Kentucky, acquired three Wisconsin companies, including Hartford Finishing, one of the largest industrial powder coaters in the Midwest and also a provider of electrocoating, wet painting and assembly services.
MiddleGround also purchased Steel Craft and Capitol Stampings, which are also headquartered in Hartford, Wisconsin.
“MiddleGround has emerged as the perfect partner to help the Wendorff family of companies transition from three independent operations to one aligned company that provides vertically integrated solutions to our customers,” said Tom Verbos, CEO of the three companies purchased.
MiddleGround Capital is a newly formed private equity firm that makes control equity investments in lower middle market North American companies in the B2B industrial and specialty distribution sectors. Founded by John Stewart, Lauren Mulholland and Scot Duncan, the firm is based in Lexington, Kentucky, with an office in New York City.
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