Kansas City, MO-based Midland Industries has acquired Pegasus Supply Group, expanding the pipe, valve and fittings master distributor and manufacturer’s portfolio of connection products and value-added services.
Terms of the Sept. 1 transaction were not disclosed.
Noblesville, IN-based Pegasus supplies industrial and electronic connection products, including cable ties, wire harnesses, heat shrink products and related maintenance and repair products. The company also provides wire harness and cable assembly, engineering and technical support and custom cutting and marking services.
Pegasus operates in the U.S. and Canada and serves customers across a range of industrial and commercial end markets.
Midland said the acquisition adds complementary products and capabilities to its existing portfolio that is heavy on industrial fittings and accessories while expanding the range of applications and markets it can serve.
“Pegasus expands both what we can offer our customers and the markets and applications we can support,” Midland CEO Mark Roszkowski said in announcing the deal. “Its product expertise, value-added capabilities, and customer-focused approach are highly complementary to Midland.”
The acquisition continues a busy year for Midland, a portfolio company of private equity firm Gemspring Capital.
In March, Midland acquired Colorado-based Industrial Specialties Manufacturing, a value-added distributor and assembler of pneumatic, vacuum and fluid circuitry components. ISM specializes in fittings, couplings, filters and valves and serves distributors and OEMs globally.
A month later, Midland acquired Trading Services International, a New York-based distributor of fittings, valves, coils and other components primarily serving the HVAC market. TSI specializes in difficult-to-source aluminum, copper and brass products.
The Pegasus deal also comes shortly after a leadership change at Midland. The company named Mark Roszkowski CEO in August. Roszkowski previously served as President of Staples subsidiary Quill and held executive roles at Vroom and Verizon Media.
Founded in 1919, Midland supplies fittings, valves, hose, clamps, flow-control products and related connection solutions to manufacturing, plumbing, utilities, HVAC, fluid power and other industrial markets.
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