MiddleGround Capital, a private equity firm focused on lower middle market B2B distribution firms, has acquired Lindsay Precast, a concrete manufacturer specializing in precast concrete products. Sound Point Capital Management acted as administrative agent and fund provider for the deal.

Lindsay Precast is a designer and manufacturer of precast structures specifically for water, utility, solar, transportation and government end markets. The firm produces a wide range of concrete based products for its diverse customer base of state and municipal governments, utility and energy companies and the federal government.

“Lindsay Precast has designed and manufactured high quality products since the 1960’s, and its solution offering for utility, infrastructure and renewable energy customers is critical in improving our nation’s infrastructure,” added Andrew Eversfield, managing director of Sound Point Capital’s direct lending business.