Steel Craft – MiddleGround Capital

Steel Craft

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Investment Date:
May 2019
Exit Date:
Fund I
Metal Fabrication, Welding, Stamping, Painting/Coating
Hartford, WI
4 facilities in Wisconsin
~$130 million
End Markets:
Lawn & Garden, Infrastructure, Electrical, Construction

Steel Craft is a leading contract manufacturer providing fabrication, welding, coating, and stamping services to a diverse range of industrial OEM customers. As a vertically integrated player of scale in highly fragmented market, Steel Craft is a preferred partner to its customer base.

Add-On Criteria

  • Geography: Southeast/South US, Mexico, Midwest
  • Size: $5M+ of EBITDA; $30M+ of sales, track record of organic growth
  • End markets: agriculture, aerospace, military, industrial automation, electrical, food processing, infrastructure, data centers
  • Products/applications: weldments, light to medium gauge fabricated components, stamped components
  • Capabilities/services: machining, short-run stamping, coating, complementary capabilities

Steel Craft Company Management

Kevin Stevick



Steven Lucas


Steven Lucas, a Wisconsin native, joined as the Company’s CFO in 2022. Prior to joining SteelCraft, Steven was most recently Financial Director of Harley Davidson International Senior Leadership Group. Steven received his M.B.A. and B.B.A. from University of Michigan.


Independent Board Members

Doug Hoerr


Doug Hoerr spent 20+ years in various management roles at Caterpillar, most recently as Vice President – Mining Division and Vice President – Components & Logistics. Doug has a B.S. in Accounting from the University of Illinois.

Bill Whalen

Consultant / Self Employed

Bill Whalen has an extensive background in financial leadership positions across public, private, and financial sponsor owned businesses. Bill has a B.S. in Accounting from Duquesne University and an M.B.A. from the University of Virginia.