Hartford companies' new owner: No plans to move jobs
Steel Craft and subsidiaries to stay put

By McLean Bennett

June xx, 2019

HARTFORD — An official with the Kentucky equity firm that recently bought out a couple manufacturers here said there are no plans to shut down factories or move jobs.

In fact, John Stewart, a founding partner with the firm, MiddleGround Capital, said the new owners are hoping the local manufacturers will continue growing.

“Absolutely they’re staying there,” Stewart told a reporter by phone Friday afternoon. “There’s never been any discussion on our side about moving these businesses.”

Those businesses include Steel Craft Corporation and two of its subsidiaries: Hartford Finishing LLC and Capitol Stampings. Steel Craft and Hartford Finishing are both based in Hartford, while Capitol Stampings is in Milwaukee.

MiddleGround Capital announced this week it had recently finalized acquisitions of the companies, which specialize in metal works, coating and stamping.

“We have no plans at all to change any of the operations or the footprint of the operations that currently exist in Wisconsin,” Stewart said.

“Hopefully,” he added, “we’ll help the companies grow and expand organically — as well as we may look for some opportunities to do some add-on acquisitions and grow the firm that way.”

<<EARLIER: Hartford companies acquired by Kentucky firm