Peterson American Corporation, manufacturer of precision formed metal parts, has been acquired by MiddleGround Capital
Southfield, MI – CFI USA (P&M Corporate FInance LLC) is pleased to announce that it served as the exclusive financial advisor to Peterson American Corporation (“PAC” or the “Company”) in its sale to MiddleGround Capital (“MiddleGround”).
Headquartered in Southfield, Michigan with facilities throughout the United States, Canada, Mexico and the United Kingdom, PAC, through its Peterson Spring and PAC Racing brands, is a leading designer and manufacturer of precision formed metal parts for mission critical applications with operations spanning back to 1914.
MiddleGround Capital is a newly formed private equity firm that makes control equity investments in lower middle market North American companies in the B2B industrial and specialty distribution sectors. The firm 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.
Eric Peterson, shareholder of PAC, commented, “There aren’t many family owned businesses that are able to thrive over the course of five generations of family ownership, and we’re proud to have accomplished that feat. We are looking forward to the continued growth of the Peterson brand under MiddleGround’s ownership.”
John Stewart, co-founder of MiddleGround, remarked, “We are honored to continue the legacy that the Peterson family began over 100 years ago. Companies like Peterson have historically invested in North American manufacturing and have provided critical manufacturing jobs that have benefited the US economy and supported their local communities. Our investment in Peterson seeks to build upon the company’s strong foundation, and position the company for growth while ensuring manufacturing employment opportunities for generations to come.”
CFI USA acted as exclusive investment banker to the shareholders of PAC, managing the entire transaction process. Peterson added, “We hired PMCF several years ago to not only lead this transaction, but advise our board and management as we prepared to exit the business. We observed PMCF’s knowledge of our business, management of the process, and transaction experience firsthand, and we value their contributions to this successful transaction.”
The transaction closed in April 2019.
The testimonials may not be representative of the experience of other clients and are no guarantee of future performance or success.
Related
Our latest transactions
Real Estate & Construction

has been acquired by

Transaction details
Blue Bay Building Products has been acquired by Wolseley Group, a leading specialist provider of plumbing, heating, cooling, and utility products to trade customers
Food & Beverage & Agribusiness

has sold

to

Transaction details
Fleury Michon has sold Room Saveurs, a trading company and laboratory specialized in the development of meal trays, to Kumo
Industrials

has transferred the equity interests of its subsidiary

to

Transaction details
Maezawa Kyuso Industries has transferred the equity interests of Maezawa Kyuso (Nanchang) to Guangzhou Hongxing Investment Co., Ltd.
Software & IT Services

have sold

to
a portfolio company of

Transaction details
Companyweb, the leading provider of subscription-based credit information and private company data intelligence in Belgium, has been sold to Altares, a provider of B2B data solutions, servicing medium and large companies across the entire data value chain