Banner Industries – MiddleGround Capital

Banner Industries

Visit Website
Investment Date:
December 2019
Exit Date:
Realized
Fund:
Fund I
Sector:
Metal Processing, Metal Distribution
Headquarters:
Carol Stream, IL
Footprint:
5 Facilities across North America
Revenue:
~$260 million
End Markets:
Medical, Industrial

Banner Industries is a leading processor and distributor of metal bar products for a diverse set of industrial and medical end markets.

Banner provides supply chain solutions and a variety of value-added metal processing services, including centerless grinding, chamfering, turning, precision saw cutting, straightening, material ID and full traceability, waterjet cutting, ultrasonic testing, and CNC machining to its OEM, contract manufacturer, and precision machining customers. Product applications range across diesel fuel systems, electric motors, agriculture, and aerospace to orthopedic, spinal, and dental implants.

Banner Add-On Investments

Investment Date: June 2020

Supra Alloys is a value-added distributor of commercially pure and alloy titanium products serving aerospace, medical, and industrial end markets. Supra is located in Camarillo, CA.

Edge International is a value-added stocking distributor of medical grade cobalt-chrome, stainless and titanium bar for medical implants and instruments, including orthopedic, spinal, and trauma medical device applications. Edge is located in Warsaw, IN.

Investment Date: November 2021

NKS is a specialty metal services provider focused on small to medium size customers with no minimum purchasing volumes. NKS provides differentiated metal products and processing capabilities across the automotive, general industrial, aerospace and defense, power generation, medical, and infrastructure and construction end markets.

Add-On Criteria

  • Geography: North America; especially Northeast and West Coast
  • Size: Minimum $3M of EBITDA, positive FCF
  • End markets: medical and aerospace (high priority), industrial
  • Products/applications: ground bar, sheet/plate, wire & cable
  • Metal types: carbon steel, exotic metals / specialized metals (high priority), titanium
  • Capabilities/services: existing capabilities and complementary processes, such as heat treating, sheet/plate cutting, high-speed blank cutting, sheering, laser cutting

DOWNLOAD OUR FACT SHEET