Livingstone advises National Kwikmetal Services on sale to Banner Industries, a portfolio company of MiddleGround

  • dec. 2021
  • Industrial
  • M&A: Sell-Side
  • US

Livingstone is pleased to announce the sale of National Kwikmetal Services (“NKS” or “the Company”), a specialty metal processing and distribution services provider, to Banner Industries (“Banner”), a portfolio company of MiddleGround Capital (“MiddleGround”). Livingstone acted as the exclusive financial advisor to NKS.

Founded in 1989 and headquartered in Des Plaines, IL, NKS is a fast-growing specialty metal services provider focused on small to medium-size customers. NKS provides differentiated metal products and processing capabilities across the automotive, general industrial, aerospace and defense, power generation, medical and infrastructure, and construction end markets. The Company has established itself as a specialty metal-services provider that offers customers flexibility and customization on orders large and small. The Company has four processing facilities located in the United States and Mexico.

“We chose to work with Livingstone based on their transactional expertise, knowledge of the metals space, and ability to access a broad universe of potential buyers,” shared Stephen Wolff, Owner & President of NKS. “Building National Kwikmetal Service has been my life’s work, and Livingstone’s strategic guidance and tireless work ethic led us to a successful outcome.

MiddleGround Capital is a private equity firm based in Lexington, KY, with over $2.0 billion in AUM. MiddleGround makes control equity investments in lower middle market B2B industrial and specialty distribution businesses. This transaction marks MiddleGround’s third add-on acquisition to the Banner platform since acquiring the company in December 2019.

Livingstone Partner Joe Greenwood stated, “The transaction between NKS and Banner is an example of our team’s dedication to achieving exceptional outcomes for our clients by crafting and executing tailored processes based on their specific goals and objectives.

We are proud to have advised Steve and the NKS family on this transaction,” added Mike Jenny, Partner at Livingstone. “Livingstone has a proven track record of working with and selling family-owned companies. This transaction further demonstrates the continued strength and optimism in the space, indicating the potential for a robust M&A market in 2022.

Livingstone has built a robust practice advising family-owned companies on exits, including the recent sales of Lesman Instruments to Kele Inc. and the affiliation of Research Triangle Dental with Heartland Dental.

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