Midland Industries, a portfolio company of Wynnchurch Capital since January 2018, has completed the add-on acquisition of Stainless Adapters.
Houston-based Stainless Adapters (SAI) supplies stainless steel hydraulic adapters and pipe fittings to companies operating in the oil & gas, agriculture, automotive, marine, and general industrial sectors.
Michael Baker, the CEO of SAI, will join Midland as the general manager of its new Houston distribution center, which is scheduled to open in the spring of 2020.
Midland Industries is a distributor and manufacturer of fittings, valves, clamps, hose, and sheet rubber. The company’s products are used in the hose, plumbing, fluid power, oil & gas, wholesale hardware and other general industrial sectors. Midland Industries is headquartered in Kansas City, Missouri.
“The acquisition of SAI strengthens our team and product offering, as we continue to build our specialty distribution and manufacturing platform,” said Vince Hodes, CEO of Midland. “We welcome Michael and his team to the Midland family and look forward to learning from their deep product knowledge, which will enable us to continue to provide our customers with a distinct advantage in the marketplace.”
Wynnchurch makes investments in middle-market companies that have revenues of $50 million to $1 billion. Sectors of interest include aerospace & defense, automotive, building products, chemicals, food, logistics, energy services & equipment, environmental services, industrial products & services, metals & mining, and paper & packaging. Wynnchurch was founded in 1999 and is headquartered in the Chicago suburb of Rosemont with additional offices in Los Angeles (El Segundo), and Toronto.
© 2020 Private Equity Professional | January 22, 2020