WEST BEND — A Kentucky-based
private equity firm announced this week it had bought two Hartford
manufacturing companies, plus one in Milwaukee.
MiddleGround Capital said in a news release that it had closed on
deals to acquire Steel Craft Corp. and Hartford Finishing LLC, both
in Hartford. It also acquired Capitol Stampings Corp. in Milwaukee.
Tom Verbos, CEO of the three companies, wasn’t immediately available
for comment Wednesday. Efforts to seek statements from MiddleGround,
which is headquartered in Lexington, Kentucky, weren’t successful.
Gary and Gene Wendorff founded Steel Craft more than 40 years ago,
according to the acquisition statement. A note on Steel Craft’s
website says Gene Wendorff remains the president of a company that
also includes both Hartford Finishing and Capitol Stampings.
In a statement, Verbos said “MiddleGround has emerged as the perfect
partner to help the Wendorff family of companies transition from
three independent operations to one aligned company that provides
vertically integrated solutions to our customers.”
Hartford Finishing specializes in coating, metal treatments and
other finishings, while Steel Craft does work in laser cutting and
other heavy metals processes.
Besides stamping, Capitol Stamping also performs welding, according
to Steel Craft’s website.
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