MiddleGround Capital, an operationally-focused private equity firm, has acquired Teale Machine Co. through its portfolio company Alco Manufacturing Corp.
Teale manufactures high-tolerance and high-volume machined parts for valve, aerospace, appliance, building products, electronics, pump, automotive and medical end markets and applications. This transaction marks MiddleGround’s third add-on acquisition to its Alco platform since acquiring Alco in 2018.
Alco is a manufacturer of hydraulic connectors for industrial and consumer end markets in the US. Alco manufactures steel, aluminum and brass products, including hydraulic connectors, garden hose connectors and quick connect devices.
Justin Steil, MiddleGround managing director, stated, “We are thrilled to add Teale to Alco’s growing track record of attractive acquisitions, and we expect Alco – as the industry leader – to continue to take advantage of consolidation opportunities across this highly fragmented sector.”