MiddleGround Capital Adds to its Alco Platform with Acquisition of Manth-Brownell
Lexington, KY–August 14, 2020: MiddleGround Capital, a private equity firm that makes control investments in North American middle market B2B industrial and specialty distribution companies, is thrilled to announce the acquisition of Manth-Brownell through its portfolio company Alco Manufacturing Corporation, which MiddleGround acquired in July 2018. This transaction represents MiddleGround’s fourth acquisition of 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.
“The integration of Manth-Brownell into our existing business portfolio and manufacturing footprint helps us further broaden and accelerate diversity in our overall machining capabilities, adds many new customers, and enhances our presence in important, complementary markets,” said Alco CEO Matt Dietrich. “We intend to leverage these expanded capabilities to better serve our customers and key markets with increasingly valuable, competitive, and cost-effective products and services.”
John Stewart, MiddleGround Partner, stated, “We’re excited about bringing Manth-Brownell together with Alco. Manth-Brownell’s capabilities are impressive, and we are confident that the combined businesses will be able to provide an even more robust offering to their customers with the same excellent service and reliable delivery they have depended on for many decades.”
About Manth-Brownell
Manth-Brownell is a precision machine parts manufacturer located in Kirkville, NY and has been in business for over 60 years. The company machines brass, lead-free brass, steel, stainless steel, aluminum, copper and plastic components for the aerospace, agriculture, heavy truck/bus, automotive and fluid power industries. Manth-Brownell has 300 pieces of equipment in operation including over 100 automatic screw machines and 50 CNC turning and milling machines.
About Alco
Headquartered in Elyria, OH, 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 was founded in 1971 and has been a portfolio company of MiddleGround Capital since 2018. To learn more about Alco, please visit: https://alco.com/.