MiddleGround Capital Completes Add-On Acquisition of Dutchland Through Its Lindsay Precast Platform
LEXINGTON, Ky.–(BUSINESS WIRE)–MiddleGround Capital, an operationally focused private equity firm that makes control investments in North American middle market B2B industrial and specialty distribution companies, today announced it has acquired Dutchland Inc. (“Dutchland”), a leading manufacturer and installer of precast concrete tanks across the water and wastewater treatment market. Dutchland Inc. was represented by BDO Capital Advisors, LLC through the process.
MiddleGround acquired Lindsay Precast in November 2021, representing its first platform investment in Fund II. Headquartered in Canal Fulton, OH, Lindsay Precast is a designer and manufacturer of engineered precast concrete structures for water/wastewater, utility, solar, transportation, and government end markets.
Based in Gap, Pennsylvania, Dutchland specializes in the engineering, production, and construction of structures used for water and wastewater facilities. Dutchland offers clients a unique combination of engineering and process design, operations expertise, and control systems implementation to allow for the efficient execution of water and wastewater projects. Dutchland uses its in-house design capabilities to work with engineers to tailor preliminary specifications for each solution.
“Dutchland is a natural and complementary addition to our platform, and we believe that combining our businesses will make us more than the sum of our parts, especially with MiddleGround Capital’s deep operating experience,” said Ron Lindsay, President of Lindsay Precast. “We welcome their dedicated team and are excited to collaborate with them as we expand their capabilities within our footprint and beyond.”
“Since the establishment of our business in the early 1980’s, we have been recognized as a leading manufacturer of precast post-tensioned concrete structures across water and wastewater infrastructure for local communities across the mid-Atlantic region,” said Ben Kauffman, President & CEO of Dutchland. “We believe MiddleGround will prove to be a great partner as they support our core values and ethical approach to business, and we look forward to future development under their management team,” he added.
Dutchland has over a 40-year track record serving the water and wastewater infrastructure markets across the East Coast region.
“We’re thrilled to welcome the experienced team at Dutchland to the Lindsay Precast platform and guide them through its next phase of growth,” said John Stewart, MiddleGround Founding Partner. “The addition of Dutchland’s product offerings to the existing platform enables us to further diversify from both product and end market sales perspective as we expand our geographic footprint to meet growing demand needs.”
About Lindsay Precast
Lindsay Precast is a premier concrete manufacturer and steel structure fabricator specializing in precast concrete products for state and municipal government entities, banks, utility companies, renewable energy companies and the US military. The company is headquartered in Canal Fulton, OH and has 350 employees across 8 facilities located in OH, CO, FL, NC, and SC. For more information, please visit: https://lindsayprecast.com/
About Dutchland Incorporated
Dutchland, Inc. designs and builds advanced structures for water and wastewater treatment and storage systems, and other highly specialized precast concrete structures. Headquartered in Gap, PA, and established in 1969, Dutchland employs roughly 140 employees. For more information, please visit: https://dutchlandinc.com/
About MiddleGround Capital
MiddleGround Capital is a private equity firm based in Lexington, KY with over $2.0 billion of Assets Under Management. MiddleGround makes control equity investments in middle market B2B 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.middlegroundcapital.com.
Contacts
MiddleGround Capital Media
Doug Allen/Maya Hanowitz
Dukas Linden Public Relations
MiddleGround@dlpr.com
+1 (646) 722-6530
