W&O Supply Acquired By MiddleGround Capital
MiddleGround Capital, a private equity firm, has acquired PVI Holdings Inc., the parent company of W&O Supply. The acquisition was announced July 19.
W&O has more than 45 years of experience as a supplier to the maritime industry and is globally one of the largest marine distributors of valves, actuated valves, pipe, fittings and engineered solutions. The company has a wide network of locations in the United States, Canada, Europe and Singapore.
“The W&O team is excited to partner with MiddleGround,” said Todd Nestel, president of W&O. “We strongly believe this will accelerate our growth plans, increase our ability to provide solutions to our customers’ needs and expand opportunities for our employees.”
“It was a cultural fit from our first meeting,” said Brad Bergeron, CEO of PVI. “MiddleGround brings a unique style to private equity that has my team fired up about the future. We value their operational expertise and passion for continuous improvement and believe they are the perfect owner for PVI’s next phase of growth.”
PVI is also the parent company of Setpoint Integrated Solutions and A-T Controls.
MiddleGround Capital is a private equity firm based in Lexington, Ky., with more than $2 billion in assets under management. MiddleGround makes control equity investments in lower middle market B2B industrial and specialty distribution businesses. The firm works with its portfolio companies to create value through a hands-on operational approach and partners with its management teams to support long-term growth strategies.