Mid-States Supply acquired by private equity
Kansas City, Mo.-based Mid-States Supply recently had substantially all its assets acquired by Staple Street Capital, a leading middle-market private equity firm.
The acquisition was effectuated through a successful stalking-horse bid by an affiliate of Staple Street Capital in a Chapter 11 (under the United States Bankruptcy Code) reorganization.
“We are thrilled to be partnering with Staple Street Capital,” Mid-States Supply CEO Ben Hurst said. “Staple Street Capital’s emphasis on providing value-added resources, commitment to operational excellence and continuous improvement, and conservative approach to financial leverage makes it a great partner for Mid-States. These are the ingredients we need in a partner to grow and strengthen our position in the industry.”
Mid-States is a distributor of industrial valves, pipe, fittings, automation products, steam specialty items and controls.
“We are excited to acquire Mid-States and provide the capital, as well as the operating and strategic resources to position the company for long-term growth,” the partners of Staple Street Capital said. “We plan to conservatively capitalize the company and invest in its people, processes and systems to grow the business and further differentiate its product offerings.”