The L.S. Starrett Company has been taken private by MiddleGround Capital

The L.S. Starrett Company

Founded in 1880 by Laroy S. Starrett and incorporated in 1929, The L.S. Starrett Company is a leading manufacturer of high-end precision measuring tools, cutting equipment and metrology systems for industrial, professional and consumer end markets. The company has more than 140 years of global manufacturing experience and currently operates four major global manufacturing plants. All subsidiaries principally serve the global manufacturing industrial base with concentration in the metalworking, construction, machinery, equipment, aerospace and automotive markets. The company offers its broad array of measuring and cutting products to the market through multiple channels of distribution throughout the world. Starrett is a brand recognized around the world for precision, quality and innovation. For more information, please visit www.starrett.com.

The Deal

Starrett (NYSE:SCX) has been taken private by an affiliate of MiddleGround Capital in an all-cash transaction on Thursday, May 23, 2024. The company will operate as a wholly owned subsidiary of MiddleGround. Lincoln International served as the lead financial advisor to Starrett and provided a fairness opinion to its board of directors in connection with the transaction. Winston & Strawn LLP served as legal counsel to Lincoln in connection with the transaction.

MiddleGround Capital

MiddleGround is a private equity firm based in Lexington, Kentucky with over $3.5 billion of assets under management. MiddleGround makes control equity investments in middle market business-to-business industrial and specialty distribution businesses. MiddleGround 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.  For more information, please visit www.middleground.com.

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