Gemspring Capital Management, LLC (Gemspring), a middle-market private equity firm, has announced that an affiliate has acquired Midland Industries, LLC (Midland), a manufacturer and distributor of pipe, valve, and fitting products across North America. Existing investor Wynnchurch Capital, L.P. (Wynnchurch) will retain a minority stake in the Company. Financial terms of the transaction were not disclosed.
Midland is a value-added distributor and manufacturer of fittings, valves, clamps, hoses, and related products for a wide variety of manufacturing, plumbing, utilities, HVAC, fluid power, and other general industrial end markets. Originally founded in 1919, Midland has grown from a regional distributor into a leading national supply chain partner to customers across the industrial ecosystem.
Midland and Wynnchurch were advised by Harris Williams as financial advisor and Paul Hastings as legal counsel. Gemspring was advised by KeyBank Capital Markets as financial advisor and Kirkland & Ellis as legal counsel.