MiddleGround Capital Acquires EDSCO Fasteners
Lexington, KY–January 15, 2020: MiddleGround Capital (“MiddleGround”), a private equity firm that makes control investments in North American middle market B2B industrial and specialty distribution companies, is pleased to announce that it has completed its acquisition of EDSCO Fasteners (“EDSCO”), a leading manufacturer of mission-critical anchoring systems for power transmission poles and other large steel structures. This is the fifth acquisition in MiddleGround’s inaugural fund and the fourth platform investment MiddleGround has made in the past nine months.
EDSCO’s anchoring systems are predominantly embedded in concrete foundations and custom engineered to allow structures to be securely placed on top of them. Each anchoring system is specifically designed for its location and usage, factoring in soil, weather conditions, temperature, and angle. Predominantly serving utility transmission and distribution (T&D) structure manufacturers, EDSCO’s product offering includes anchor cages, 18J rebar bolts, smooth bar bolts, bolt hardware, plates, and other fabricated products.
MiddleGround co-founder Lauren Mulholland commented, “EDSCO has done an excellent job of establishing itself as a market leader by offering best-in-class product and service to its customers and positioning itself for expansion into adjacent end markets. We’re thrilled to be partnering with EDSCO’s management team to continue this legacy and support the company’s next phase of growth.”
Unique to EDSCO is its national geographic presence, industry-leading quality protocols, and flexible production capabilities. EDSCO is well-positioned to benefit from continued robust spending on infrastructure projects across T&D, telecommunications, transportation, and wind power.
EDSCO President and CEO Richard Butler said, “EDSCO has a long history as a trustworthy supplier to its customers, reputation for excellence, and track record of growth. Our team really valued MiddleGround’s highly operational approach and culture of continuous improvement. Their values and experiences align well with our own, and we are excited to have MiddleGround as a partner in helping us to achieve our goals.”
About EDSCO Fasteners
Founded in 1985, EDSCO is a leading manufacturer and distributor of anchor bolt cages for mission-critical infrastructure installations. The company primarily serves the T&D utility market with products that support transmission towers and also supplies customers in the telecommunications and transportation markets. EDSCO’s product offering includes anchor cages, 18J rebar bolts, smooth bar bolts, bolt hardware, plates, and other fabricated products. Headquartered in Denton, TX, EDSCO has additional facilities in UT, NC, TN, and IN. For further information, please visit: www.edsco.com
About MiddleGround Capital
MiddleGround Capital is a private equity firm that makes control equity investments in lower middle market North American companies in the B2B industrial and specialty distribution sectors. It is currently investing out of its first fund. 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. Founded by John Stewart, Lauren Mulholland and Scot Duncan, the firm is based in Lexington, Kentucky with an office in New York City. For further information, please visit: www.middlegroundcapital.com