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MiddleGround Capital Acquires Peterson Spring


MiddleGround Capital ("MiddleGround"), a new private equity firm that
makes control investments in business-to-business ("B2B") industrial and
specialty distribution companies in the North American lower middle
market today announced the closure of its second transaction in its
inaugural private equity fund – the acquisition of Peterson Spring
("Peterson" or the "Company"), a leading specialty spring manufacturer
with thirteen facilities throughout North America and the United Kingdom.

"We are honored to continue the legacy that the Peterson family began
over 100 years ago," said John Stewart, co-founder of MiddleGround.
"Companies like Peterson have historically invested in North American
manufacturing and have provided critical manufacturing jobs that have
benefited the US economy and supported their local communities. Our
investment in Peterson seeks to build upon the company's strong
foundation and position the company for growth while ensuring
manufacturing employment opportunities for generations to come."

Based in Southfield, Michigan, Peterson is a designer and manufacturer
of highly engineered springs, wire forms, related components, and
sub-assemblies. Leveraging their deep industry expertise, the
MiddleGround team will partner with Peterson's management team and
employees to help the company increase operational efficiency and
provide necessary resources to fuel the company's long-term growth.

"Peterson is perfectly positioned to continue providing mission critical
components to a variety of industries. MiddleGround's investment in
Peterson will enable the company to meet the growing demands of its
customers," said Scot Duncan, Partner at MiddleGround.

Mr. Stewart, Ms. Mulholland and Mr. Duncan have been working together in
private equity for the past eight years. In addition to their work in
the private equity industry, Mr. Stewart and Mr. Duncan have over 30
years of combined experience working in operational roles at Toyota
Motor Company, including leadership positions in engineering,
maintenance, production and manufacturing.

About MiddleGround Capital

MiddleGround Capital is a newly formed private equity firm that makes
control equity investments in lower middle market North American
companies in the B2B industrial and specialty distribution sectors. The
firm works with its portfolio companies to create value through a
hands-on operational approach and partners with its management teams to
support long-term growth strategies. Founded by John Stewart, Lauren
Mulholland and Scot Duncan, the firm is based in Lexington, Kentucky
with an office in New York City. For further information, please visit:

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