MiddleGround Capital, a Kentucky-headquartered, middle market private equity firm that makes control investments in B2B industrial, manufacturing and distribution businesses, has hired Justin W. Steil to the firm as a managing director on the investment team. Steil is based in the firm’s New York office and is responsible for sourcing, evaluating and leading investments, as well as supporting the portfolio and helping to set the firm’s strategic direction.
Steil was most recently a managing director at PineBridge Investments, where he focused on private equity and subordinated debt investments in the firm’s private capital business.
“Justin could not have joined our team at a better time, given both our recent increase in dry powder and the surge of M&A market activity this year,” said founding partner, Lauren Mulholland. “We are excited to tap into Justin’s deep experience investing across the industrials sector and value the perspectives he brings having put capital to work up and down the capital structure.”
“MiddleGround has quickly established itself as one of the most active private equity investment firms across the middle market industrial landscape, leveraging its extensive operating resources throughout the investment process to evaluate opportunities and drive value creation after an investment is made,” said Steil. “I look forward to working with Lauren Mulholland, John Stewart, Scot Duncan and all of my new colleagues to build on the strong track record they have created and to help MiddleGround continue to grow.”