Midland Industries, a portfolio company of Gemspring Capital, has acquired Pegasus Supply Group, expanding its portfolio of industrial and electronic connection products.
Pegasus supplies industrial and electronic connection products, including cable ties, wire harnesses, heat shrink products and related maintenance and repair products.
The company also provides value-added services such as wire harness and cable assembly, engineering and technical support, and custom cutting and marking.
With operations in the United States and Canada, Pegasus serves customers across a range of industrial and commercial markets.
The acquisition broadens Midland’s existing product portfolio and adds complementary connection products and technical capabilities.
Midland provides fittings, valves, hose, clamps, flow-control products and related connection solutions to customers across manufacturing, plumbing, utilities, HVAC, fluid power and general industrial markets.
The combination is expected to create additional opportunities for Midland to serve customers across a broader range of applications while adding Pegasus’ technical and assembly capabilities.
Midland is based in Kansas City, Missouri, and has supplied industrial connection components since 1919.
The company is backed by Gemspring Capital, a Westport, Connecticut-based private equity firm with approximately $5.1 billion of capital under management. Gemspring invests across sectors including aerospace and defense, business services, consumer services, financial and insurance services, healthcare, industrial, software and technology-enabled services.
KEY QUOTES:
“Pegasus expands both what we can offer our customers and the markets and applications we can support. Its product expertise, value-added capabilities, and customer-focused approach are highly complementary to Midland. We are excited to welcome the Pegasus team and look forward to building on the strengths of both organizations as we create even more ways to help our customers succeed.”
Mark Roszkowski, Chief Executive Officer of Midland Industries
“Pegasus is a compelling strategic fit with Midland and represents an important next step in the company’s growth. The business brings complementary products, differentiated technical capabilities, and longstanding customer relationships, while creating meaningful opportunities to expand the value Midland provides to its customers. We are excited to partner with Mark and the Midland team as they bring the businesses together and continue building a stronger platform for long-term growth.”
Alex Funk, Managing Director at Gemspring Capital
