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,”
“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