Midland acquires Pegasus Supply, expanding its industrial connection lineup
What's the deal? Midland IndustriesDealroom has a profile for this one. Try Dealroom →, a Kansas City-based supplier of fittings, valves, and flow-control products, has acquired Pegasus Supply GroupDealroom has a profile for this one. Try Dealroom →. Terms were not disclosed. Midland is a portfolio company of private equity firm Gemspring CapitalDealroom has a profile for this one. Try Dealroom →.
Who's involved? Founded in 1919, Midland serves manufacturing, plumbing, utilities, HVAC, and general industrial markets. Pegasus supplies industrial and electronic connection products — cable ties, wire harnesses, and heat shrink products — plus value-added services such as wire harness assembly and custom cutting, across the US and Canada.
What's the endgame? The deal broadens Midland's product range with complementary connection products and adds Pegasus's technical capabilities. "Pegasus expands both what we can offer our customers and the markets and applications we can support," said Mark Roszkowski, chief executive officer of Midland Industries.
Why now? Gemspring frames the purchase as a growth step for its platform. "Pegasus is a compelling strategic fit with Midland and represents an important next step in the company's growth," said Alex Funk, a managing director at Gemspring.
The signal: The acquisition reflects continued consolidation among industrial distributors as private equity backers build broader platforms. Gemspring, which manages $5.1 billion, is positioning Midland to cross-sell across a wider set of applications and end markets.
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