Business Wire06.16.20
MiddleGround Capital, a private equity firm that makes control investments in North American middle market B2B industrial and specialty distribution companies, has completed the acquisition of Supra Alloys and Edge International from Titan Metal Fabricators. The two businesses will be combined with Banner Industries, a portfolio company of MiddleGround that was acquired in December 2019.
Supra and Edge are value-added stocking distributors of metal bar, plate and sheet product. Supra supplies commercially pure and alloy titanium in all forms for use in aerospace, medical, and industrial end markets, and Edge provides medical grade cobalt-chrome, stainless and titanium bar for medical implants and instruments, including orthopedic, spinal, and trauma medical device applications.
“The addition of Supra and Edge builds scale in medical and aerospace end markets and broadens our geographic reach,” said Dan Stoettner, president of Banner Industries. “We are thrilled about working with the Supra and Edge teams and learning from their expansive industry knowledge so we can further enhance the high-quality product and service we provide to our customers.”
“The combination with Banner excites us. We have been successful executing our growth strategy and believe that partnering with Banner will accelerate that growth,” Craig Schank, general manager of Supra, stated.
Stephen Smith, president and general manager of Edge, noted, “We look forward to working with the Banner team and leveraging all of the capabilities Banner has to offer, which will give us a broader competitive advantage in the medical market.”
MiddleGround partner John Stewart said, “We are excited to welcome the Supra and Edge teams to the MiddleGround family. With the complementary capabilities and product offering they bring to Banner, we believe the future of this platform is very bright. This is a transformational step forward, and we look forward to what this next phase of growth means for our customers.”
Supra and Edge are value-added stocking distributors of metal bar, plate and sheet product. Supra supplies commercially pure and alloy titanium in all forms for use in aerospace, medical, and industrial end markets, and Edge provides medical grade cobalt-chrome, stainless and titanium bar for medical implants and instruments, including orthopedic, spinal, and trauma medical device applications.
“The addition of Supra and Edge builds scale in medical and aerospace end markets and broadens our geographic reach,” said Dan Stoettner, president of Banner Industries. “We are thrilled about working with the Supra and Edge teams and learning from their expansive industry knowledge so we can further enhance the high-quality product and service we provide to our customers.”
“The combination with Banner excites us. We have been successful executing our growth strategy and believe that partnering with Banner will accelerate that growth,” Craig Schank, general manager of Supra, stated.
Stephen Smith, president and general manager of Edge, noted, “We look forward to working with the Banner team and leveraging all of the capabilities Banner has to offer, which will give us a broader competitive advantage in the medical market.”
MiddleGround partner John Stewart said, “We are excited to welcome the Supra and Edge teams to the MiddleGround family. With the complementary capabilities and product offering they bring to Banner, we believe the future of this platform is very bright. This is a transformational step forward, and we look forward to what this next phase of growth means for our customers.”
