(EYRIA, OH) – Kentucky-based private equity firm Middleground Capital has acquired stake from Blue Point Capital Partners in platform company Alco Manufacturing Corporation. Blue Point has held controlling interest in Alco since July 2018. Terms of the deal were not disclosed.
With Blue Point, Alco built two new greenfield facilities, doubled earnings, expanded engineering and manufacturing capabilities and added new markets. There was also investment in two acquisitions including K&M Precision Products Co. of Dexter, Michigan
"The support and resources provided by Blue Point accelerated our growth and allowed us to be a dominant leader in the metal components industry," said Alco president DJ Mumma in a statement. "We are extremely pleased with the results attained while partnered with Blue Point and look forward to pursuing additional value opportunities alongside our new partner."
Alco is the largest independent manufacturer of precision turned unleaded steel, brass and aluminum couplings and fittings. Alco products are used in end markets including agriculture, industrial production, forestry, mining and oil and gas exploration with over 500 employees.