Alco Manufacturing – MiddleGround Capital

Alco Manufacturing

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Investment Date:
July 2018
Exit Date:
Current
Fund:
Fund I
Sector:
Precision Machining
Headquarters:
Elyria, OH
Footprint:
5 facilities across OH, MI, and NY
Revenue:
~$100 million
End Markets:
Hydraulics, Consumer, Commercial

Alco is the leading manufacturer of hydraulic connectors for the industrial and consumer end markets. Alco manufactures steel, aluminum and brass products, including hydraulic connectors, garden hose connectors, plumbing cartridges, natural gas fittings and quick connect devices, among others.

Alco Add-On Investments

Investment Date: August 2020

Manth-Brownell is a manufacturer of precision machined components, primarily serving the electrical connector, fluid power, industrial, appliance, safety and aerospace end markets. The company has a diverse fleet of machines, with over 100 multi-spindle screw machines and 50 CNC turning and milling machines and operates out of a single facility in Kirkville, NY.

Investment Date: November 2021

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. The Company has a variety of different machining capabilities including Davenport/Acme screw machines, Tornos multi-spindle Swiss CNCs, Tsugami single spindle Swiss CNCs, Bechler Swiss machines and Escomatic Swiss machines.

Investment Date: April 2022

With over 75 years of experience in automatic machining, Teale manufactures high-tolerance and high-volume machined parts for a variety of end markets and applications. Based in Rochester, New York, Teale offers a diverse set of machining capabilities across various metal types. For more information, please visit: www.tealemachine.com

Add-On Criteria

  • Geography: North America, Mexico
  • Size: $1M+ of EBITDA, 10%+ gross margins, owned real estate a plus
  • End markets: aerospace & defense, medical, plumbing, consumer, industrial, electrical
  • Products/applications: screw machine products, specialty fasteners, clamps, struts, valves, connectors, high-grade steel fittings, private label
  • Materials: stainless steel, brass, bronze, carbon steel, aluminum, titanium, specialty stainless steel alloys
  • Capabilities/services: secondary processes (flats, holes, splines, worm threads, etc.), value-added assembly, CNC machine processes preferred to screw machine processes, owned IP/established product line(s) a plus

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