MiddleGround Capital has acquired Plasman Holdings, its third investment from its Mobility Strategy. Earlier in 2021, MiddleGround raised over $1 billion which includes its $250 million Mobility Opportunity Fund, designed to take advantage of companies with exposure to key trends that will shape the future of the automotive industry.
Plasman Holdings is a services provider to automotive equipment manufacturers.
“We are in unprecedented times in the automotive industry today,” said John Stewart, MiddleGround founding partner. “The entire supply chain is grappling with funding needs to fuel the continued development of new products and new technology to keep up with consumer demands, and we are thrilled to add a market leader in the automotive exterior plastics space to our growing portfolio and to partner with management in this next stage of the company’s growth.”
“MiddleGround’s vision for the future of the automotive industry align with the challenges that we face every day,” said David Wiske, Plasman Holdings president and CEO.