David Althoff
Managing Director
Industrials M&A
Chicago
David Althoff
a portfolio company of
has been acquired by
Duff & Phelps Advised Banner Industries, LLC on its Sale to MiddleGround Capital
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Laura McNaughton
Managing Director
Industrials M&A
Chicago
Laura McNaughton
Jeffrey McNamara
Director
Industrials M&A
Chicago
Jeffrey McNamara
In December 2019, Banner Industries, LLC (“Banner” or the “Company”), a portfolio company of High Street Capital, was acquired by MiddleGround Capital (“MiddleGround”).
Duff & Phelps served as exclusive financial advisor to the shareholders of Banner and provided M&A advisory services in connection with the sale transaction.
About Banner Industries, LLC
Headquartered in Carol Stream, IL, Banner is a leading provider of value-added precision metal products and supply chain solutions for a diverse mix of industrial OEMs, medical device manufacturers, metal service centers and precision machine shops. The Company leverages unmatched sourcing relationships and a full suite of processing capabilities providing a one-stop-shop solution for customers. Banner has cemented market-leading positions through two distinct business segments: Banner Service Corporation for commercial and industrial customers and Banner Medical Innovations for orthopedic and medical end markets. Perkins Coie LLP and Michael Best & Friedrich LLP served as legal counsel to Banner.
About MiddleGround Capital
MiddleGround is a private investment firm with offices in New York and Kentucky, focusing on investments in business-to-business industrial and specialty distribution companies in the North American lower middle market. MiddleGround is an operations-focused group, working closely in support of management to build long-term sustainable value through the implementation of strategic and operating initiatives. Greenberg Traurig served as legal counsel to MiddleGround.
Related Services
Corporate Finance
Comprehensive support throughout mergers and acquisitions and other corporate transactions.
Corporate Finance
M&A Advisory
Middle-market M&A advisory differentiated by industry expertise and superior deal execution.
M&A Advisory
Fairness and Solvency Opinions
Independent opinions for boards of directors and special committees.
Fairness and Solvency Opinions
Transaction Advisory Services
Seamless analytical advisory through the deal continuum, from transaction origination to closing.
Transaction Advisory Services
Financial Sponsors Group
Dedicated coverage and access to M&A deal-flow for financial sponsors.
Financial Sponsors Group
Private Capital Markets – Debt Advisory
Advice on capital raising and securing best market terms across the capital structure from senior debt to equity.
Private Capital Markets – Debt Advisory
Valuation Advisory
Valuation and consulting for financial reporting, federal, state and local tax, investment and risk management purposes.
Valuation AdvisoryRelated Case Studies
Debt Advisory
Duff & Phelps Advised Aero Services Global Group Limited in a Direct Lending Financing Package, Provided by Magnetar Capital
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a portfolio company of
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Brazil Transaction Insights – Q1 2020
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Valuation
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Ryan McNelley Spoke to Private Equity News on the Importance of Independent Valuations
Events
Duff & Phelps to Sponsor the ELFA Equipment Management Conference and Exhibition
February 23-25, 2020 Orlando
