Gemspring Capital Management, LLC (“Gemspring”), a middle-market private equity firm, is pleased to announce that an affiliate has acquired Midland Industries, LLC (“Midland” or the “Company”), a manufacturer and distributor of pipe, valve, and fitting products across North America. Existing investor Wynnchurch Capital, L.P. (“Wynnchurch”) will retain a minority stake in the Company. Financial terms of the transaction were not disclosed.
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Midland is a value-added distributor and manufacturer of fittings, valves, clamps, hoses, and related products for a wide variety of manufacturing, plumbing, utilities, HVAC, fluid power, and other general industrial end markets. Originally founded in 1919, Midland has grown from a regional distributor into a leading national supply chain partner to customers across the industrial ecosystem.
John Gerber, CEO of Midland said “Midland is at an exciting inflection point in our evolution, and we are thrilled to partner with Gemspring as we pursue numerous growth and innovation opportunities across our product lines. Gemspring’s considerable industrial distribution expertise will drive significant value as we expand our product suite, geographic reach, and end markets to better serve a longstanding customer base that has become accustomed to our exceptional service levels.”
“John and his team have built a best-in-class distribution platform, and we believe that Midland is differentiated in a market where supply chain partnership and operational excellence is critical to customer success,” added Geoff Broglio, Managing Director at Gemspring. “We are excited to partner with the Midland team as the company continues to grow its operations and drive product innovation, geographic expansion, and end market diversification.”
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“Since our investment in 2018, Midland has solidified its position in the industrial distribution market, developing an industry-leading e-commerce platform and building a national footprint of local facilities—all while maintaining an unwavering commitment to customer success,” said Greg Gleason, Managing Partner at Wynnchurch. “We look forward to the next phase of growth for Midland and believe that Gemspring is the ideal partner to drive continued success for the Company.”
Midland and Wynnchurch were advised by Harris Williams as financial advisor and Paul Hastings as legal counsel. Gemspring was advised by KeyBank Capital Markets as financial advisor and Kirkland & Ellis as legal counsel
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