MiddleGround Capital, Lexington, Ky., a private equity firm that makes control investments in the middle-market manufacturing B2B and specialty distribution industries, has acquired A.M. Castle & Co., known as Castle Metals.
Headquartered in Oak Brook, Ill., Castle Metals distributes specialty metals and supply chain services to industrial and aerospace industries. Castle Metal operates globally with over 20 locations across North America, Europe and Asia.
“Castle Metals has long been recognized as a leading processor and distributor of specialty metals, serving both aerospace and industrial customers globally,” said Dan Stoettner, CEO at Castle Metals. “With the additional insight and guidance provided through MiddleGround’s team of operational experts, we are excited to enter the next phase of growth as we continue to establish ourselves as a metals industry leader.”
“Leveraging their long-standing metals expertise and customized approach to processing, Castle Metals is well-positioned to meet the evolving needs of a variety of industries,” said Ryan McComb, director of the Investment Team at MiddleGround Capital. “Castle Metals represents one of few scaled metals service centers and will allow us to increase exposure to aerospace and industrial end-markets.”