Alco Manufacturing – MiddleGround Capital

Alco Manufacturing

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Investment Date:
July 2018
Exit Date:
Fund I
Precision Machining
Elyria, OH
5 facilities across OH, MI, and NY
~$100 million
End Markets:
Hydraulics, Consumer, Commercial

Alco is the leading manufacturer of hydraulic connectors for the industrial and consumer end markets. Alco manufactures steel, aluminum and brass products, including hydraulic connectors, garden hose connectors, plumbing cartridges, natural gas fittings and quick connect devices, among others.

Alco Add-On Investments

Investment Date: August 2020

Manth-Brownell is a manufacturer of precision machined components, primarily serving the electrical connector, fluid power, industrial, appliance, safety and aerospace end markets. The company has a diverse fleet of machines, with over 100 multi-spindle screw machines and 50 CNC turning and milling machines and operates out of a single facility in Kirkville, NY.

Investment Date: November 2021

Kaddis is a manufacturer of precision machined components for the fluid system, industrial sensor, medical device, motor and automotive end markets, headquartered in Rochester, NY. The Company has a variety of different machining capabilities including Davenport/Acme screw machines, Tornos multi-spindle Swiss CNCs, Tsugami single spindle Swiss CNCs, Bechler Swiss machines and Escomatic Swiss machines.

Investment Date: April 2022

With over 75 years of experience in automatic machining, Teale manufactures high-tolerance and high-volume machined parts for a variety of end markets and applications. Based in Rochester, New York, Teale offers a diverse set of machining capabilities across various metal types. For more information, please visit:

Add-On Criteria

  • Geography: North America, Mexico
  • Size: $1M+ of EBITDA, 10%+ gross margins, owned real estate a plus
  • End markets: aerospace & defense, medical, plumbing, consumer, industrial, electrical
  • Products/applications: screw machine products, specialty fasteners, clamps, struts, valves, connectors, high-grade steel fittings, private label
  • Materials: stainless steel, brass, bronze, carbon steel, aluminum, titanium, specialty stainless steel alloys
  • Capabilities/services: secondary processes (flats, holes, splines, worm threads, etc.), value-added assembly, CNC machine processes preferred to screw machine processes, owned IP/established product line(s) a plus

Alco Company Management

Steve Crain


Steve joined ALCO in 2023 as the company’s CEO. Steve joined ALCO with decades of C-Suite management experience across a variety of manufacturing industries, holding CEO positions at Paragon Metals, Peterson Spring, and MPI Products among other firms.

Chuck Schiavello


Chuck joined Alco in 2020 as the Company’s CFO.  Prior to joining Alco, Chuck was most recently Vice President of Finance at Busche Performance Group. Chuck holds a B.S.B.A. in Accounting from The Ohio State University and an M.B.A. from Xavier University.

Independent Board Members

Greg Taylor

Assurance and Consulting Partner

Greg is a Partner and Director of the assurance and consulting department for Gilmore Jasion Mahler, LTD. He is a member of the firm’s manufacturing & distribution and construction & real estate industry teams. He has over 25 years of public accounting experience specializing in audit, tax, business consulting, and strategic planning and spent 5 years as CFO of various private equity/family office-owned businesses with $50 – $350 million in sales.

Bill Krueger

Automotive Executive

Bill Krueger has spent 35+ years in various automotive manufacturing leadership roles at GM, Toyota and Nissan.  Most recently as Chairman Jatco Americas, Nissan’s affiliated Transmission business. Bill has a B.S. in Electrical Engineering from Marquette University, an M.S. in Manufacturing Management and an M.B.A. from Northwestern University.