MiddleGround Capital Acquires SixAxis
Lexington, KY, November 17, 2022: MiddleGround Capital, an operationally focused private equity firm that makes control investments in North American middle market B2B industrial and specialty distribution companies, today announced the acquisition of SixAxis, LLC (“SixAxis” or the “Company”), a market leading provider of highly engineered, compliance-driven safety equipment solutions across diverse end markets.
Headquartered in Andrews, South Carolina, SixAxis’ highly differentiated, patent-protected suite of customizable and modular solutions are purpose-built to address companies’ safety and productivity challenges. Since its founding in 2002, SixAxis has ensured that all designed and manufactured safety and access solutions are compliant with relevant OSHA, ADA and IBC regulations. The Company’s products, offered under the brand families SafeRack, ErectAStep and Upside Innovations, include superior stairway and platform systems, fall protection and bulk loading solutions. SixAxis products are also all customizable to meet customer requirements within facilities across a range of end markets, including food & beverage, bulk chemical, commercial / modular buildings, energy transportation, and general industrial. With two manufacturing locations and four stocking / distribution centers supporting over 1,900 active blue-chip customers, SixAxis helps to establish and maintain superior worker safety conditions for companies throughout the industrial landscape.
“We are thrilled by today’s news, particularly given SixAxis is considered the gold standard when it comes to keeping operators safe and efficient – as well as businesses productive and profitable,” said John Stewart, MiddleGround Founding Partner. “Our team is looking forward to working with SixAxis’ seasoned, growth-oriented management team to support them across a variety of key initiatives with the overarching goal of enhancing operations and supporting the company’s scaling and expansion efforts. As an established leader in the space, we envision strong opportunities for SixAxis to grow its customer base and offerings, particularly given their shared conviction for ensuring worker safety is both addressed and taken seriously.”
With an over $3 billion addressable market for access and loading fall prevention solutions, SixAxis is well positioned within a highly fragmented market to benefit from regulatory tailwinds, and as a result, continue its strong growth trajectory. Coupled with MiddleGround Capital’s operational expertise, SixAxis will continue to pursue a multi-faceted growth plan across end markets, products and customers, solidifying its reputation as a best-in-class provider of non-discretionary worker safety equipment.
“We are very proud of our differentiated products and technology, as well as the exceptional people at our company,” said SixAxis CEO, Jeff Reichert. “Since our founding, we have grown into a sustainable, integrated enterprise of innovative, market-facing brand solutions, benefiting from increased global demand from companies to keep employees healthy and safe. MiddleGround Capital is the perfect partner to help us ramp up our growth efforts as they understand the importance of and share our commitment of keeping safety and compliance top of mind in all that we do.”
Marty Sjoquist, Director on MiddleGround Capital’s Investment Team, added, “At MiddleGround Capital, we are always looking for companies that align with our values and SixAxis is an ideal example of the sort of companies we look to partner with. We fully believe in the company’s growth story and share the SixAxis management team’s enthusiasm and excitement for addressing the gap in customizable and configurable worker safety solutions. We look forward to working together to ensure that safe, productive, and compliant work environments are achievable for current and prospective customers.”
Piper Sandler acted as exclusive financial advisor to SixAxis in its sale to MiddleGround Capital.
About MiddleGround Capital
MiddleGround Capital is a private equity firm based in Lexington, KY with over $2.0 billion of Assets Under Management. MiddleGround makes control equity investments in 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. For more information, please visit: www.middlegroundcapital.com.
About SixAxis, LLC
SixAxis was founded in 2002 to deliver high-quality loading rack and fall protection solutions throughout the industrial landscape. The company has developed a market-leading portfolio of three premium brands including SafeRack, ErectAStep, and Upside Innovations, all created to design and manufacture superior solutions that increase worker safety standards and boost productivity. For more information about how SixAxis is changing the world of manufacturing with a diverse array of innovative products and solutions that are made to give your business a competitive edge, visit www.sixaxis llc.com.
MiddleGround Capital Media Contacts
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