MiddleGround Capital Acquires Supra Alloys and EDGE International

Lexington, KY–June 2, 2020: MiddleGround Capital (“MiddleGround”), a private equity firm that makes control investments in North American middle market B2B industrial and specialty distribution companies, announced today that it has completed the acquisition of Supra Alloys (“Supra”) and EDGE International (“Edge”) from Titan Metal Fabricators. The two businesses will be combined with Banner Industries (“Banner”), a portfolio company of MiddleGround that was acquired in December 2019.

Supra and Edge are value-added stocking distributors of metal bar, plate and sheet product. Supra supplies commercially pure and alloy titanium in all forms for use in aerospace, medical, and industrial end markets, and Edge provides medical grade cobalt-chrome, stainless and titanium bar for medical implants and instruments, including orthopedic, spinal, and trauma medical device applications.

“The addition of Supra and Edge builds scale in medical and aerospace end markets and broadens our geographic reach,” said Dan Stoettner, President of Banner Industries. “We are thrilled about working with the Supra and Edge teams and learning from their expansive industry knowledge so we can further enhance the high quality product and service we provide to our customers.”

“The combination with Banner excites us. We have been successful executing our growth strategy and believe that partnering with Banner will accelerate that growth,” Craig Schank, General Manager of Supra, stated.

Stephen Smith, President and General Manager of Edge, noted, “We look forward to working with the Banner team and leveraging all of the capabilities Banner has to offer, which will give us a broader competitive advantage in the medical market.”

MiddleGround partner John Stewart said, “We are excited to welcome the Supra and Edge teams to the MiddleGround family. With the complementary capabilities and product offering they bring to Banner, we believe the future of this platform is very bright. This is a transformational step forward, and we look forward to what this next phase of growth means for our customers.”

About Supra and Edge

Headquartered in Camarillo, CA, Supra is value-added distributor of commercially pure and alloy titanium products serving aerospace, medical, and industrial end markets. Edge 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 Dayton, OH. For further information, please visit: www.supraalloys.com and www.edgeintl.com.

About Banner Industries

Established in 1961, Banner Industries is a value-added metals processor and distributor serving OEMs, contract manufacturers, and precision machine customers through two divisions: Banner Service Corporation (“BSC”) and Banner Medical Innovations (“BMI”). BSC serves a diverse set of industrial customers and steel service centers with applications in irrigation, diesel fuel systems, electric motors, agriculture, aerospace, and auto, among others. BMI processes medical-grade metals for device manufacturers in orthopedic, spine, dental, and other specialty medical fields. Banner is headquartered in Carol Stream, IL with additional facilities in OH, NC, IN, TX. For further information, please visit: www.bargrind.com and www.banner-medical.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. For further information, please visit: www.middlegroundcapital.com

 

Media Contacts:

Andrea Hurst
212-883-3666
andrea.hurst@moelisam.com

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