MPE Partners Announces Investment in Mid-States Bolt & Screw Co.
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CLEVELAND and BOSTON, October 19, 2023-- MPE Partners ("MPE" or "Morgenthaler Private Equity") announced today an investment in Mid-States Bolt & Screw Co. ("Mid-States" or the "Company"), a value-added distributor of fasteners and MRO products serving a diverse range of end markets. MPE's investment positions Mid-States for accelerated growth while supporting the Company as an industry leader, an employer of choice, and a strategic partner for its customers.
MPE partnered in the transaction with the Somers family, who founded Mid-States more than 50 years ago. Scott Somers, President of Mid-States, said, "On behalf of my family, we are excited to partner with MPE. Since my father's founding of the business over 50 years ago, Mid-States has continued to drive success through our dedication to excellent customer service. We are excited to work with the MPE team to maintain this tradition while pursuing the Company's next phase of growth."
Graham Schena, Partner at MPE, said, "We are looking forward to partnering with the Somers family and the rest of the Mid-States team to accelerate the Company's growth through continued customer service and product availability, as well as organic and inorganic geographic expansion." Nick Stender, Principal at MPE, added, "The Somers family has built Mid-States into a world-class distributor over the past several decades, and has exciting growth planned. We look forward to helping Mid-States accelerate its growth while maintaining the culture and tradition of excellence that has made the Company so successful to date."
Founded in 1973, with seven branches throughout Michigan and additional branches in OH, WI, and NC, Mid-States is a value-added distributor of fasteners and MRO products serving a diverse range of end markets. In addition to its ten branches, the Company operates numerous cribs co-located in customer facilities throughout the U.S. Within its fasteners segment, the Company sells hex caps, bolts, screws, socket products, and a wide range of other fasteners. Within MRO, the Company sells safety, janitorial, electrical, material handling, and various other MRO and related products. Mid-States also provides several valued-added services including kitting, vendor-managed inventory, vending machine management, and application engineering. For more information, please visit www.midstatesbolt.com.
About MPE Partners
MPE Partners ("MPE" or "Morgenthaler Private Equity") seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with transaction values up to $250 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.