Private equity company MiddleGround Capital has actually gotten PVI Holdings, Inc., the moms and dad business of W&O Supply, Setpoint Integrated Solutions as well as A-T Controls.
“It was a cultural fit from our first meeting. MiddleGround brings a unique style to private equity that has my team fired up about the future,” stated Brad Bergeron, PVI CHIEF EXECUTIVE OFFICER. “We value their operational expertise, passion for continuous improvement, and believe they are the perfect owner for PVI’s next phase of growth.”
PVI is a circulation control supplier concentrated on offering MRO applications throughout marine, chemical, downstream power, as well as various other commercial end markets. Its W&O Supply arm is a representative of shutoffs, activated shutoffs, pipeline, installations as well as crafted remedies to the maritime market.
“The W&O team is excited to partner with MiddleGround,” stated Todd Nestel, head of state of W&O. “We strongly believe this will accelerate our growth plans, increase our ability to provide solutions to our customer’s needs, and expand opportunities for our employees. That said, it is important to acknowledge the exceptional run W&O has had under Pon’s ownership. Their support during the last 23 years led to W&O’s growth and success, including our international expansion into Canada, Europe and Singapore.”
MiddleGround starting companion Lauren Mulholland commented, “PVI represents an opportunity to carve out a market-leading flow control distribution platform. We are impressed by the success these businesses have realized to date and look forward to expanding on their growth as well as identifying incremental opportunities for the company’s expansion under our ownership.”
“We are thrilled to be adding a specialty distribution business to our portfolio. PVI serves as a critical link in its supply chain and is a true value-added partner to both its customers and suppliers. We are excited to partner with the PVI management team to invest in organic and inorganic growth initiatives that will continue to expand the company’s value proposition,” included MiddleGround vice head of state Marty Sjoquist.
“We are so excited to work with such a talented management team to help invest and accelerate growth, while also developing a corporate structure for the company. We look forward to working with PVI to identify and take advantage of synergies between the three divisions,” stated MiddleGround starting companion Scot Duncan.
