MiddleGround Capital, a private equity firm that makes control investments in North American middle market B2B industrial and specialty distribution companies, announced that it has fully completed its acquisition of EDSCO Fasteners. EDSCO is a manufacturer of mission-critical anchoring systems for power transmission poles and other large steel structures.
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.
Pre-dominantly 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.
“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,” said MiddleGround co-founder Lauren Mulholland. “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, 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.”
This is the fifth acquisition in MiddleGround’s inaugural fund and the fourth platform investment MiddleGround has made in the past nine months.