MiddleGround Capital has acquired PVI Holdings Inc., the parent company of W&O Supply, Setpoint Integrated Solutions and A-T Controls.
MiddleGround Capital, a private equity firm based in Lexington, Ky., invests in middle market B2B industrial and specialty distribution companies. “It was a cultural fit from our first meeting," Brad Bergeron, PVI CEO, said in a statement. "MiddleGround brings a unique style to private equity that has my team fired up about the future. We value their operational expertise, passion for continuous improvement, and believe they are the perfect owner for PVI’s next phase of growth.”
“The W&O team is excited to partner with MiddleGround,” said Todd Nestel, president of W&O, Jacsonville, Fla. “We strongly believe this will accelerate our growth plans, increase our ability to provide solutions to our customer’s needs, and expand opportunities for our employees.”
W&O has over 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. W&O services its customers through a wide network of locations in the U.S., Canada, Europe and Singapore.