Lexington, Kentucky-based private equity firm MiddleGround Capital has acquired Advantage Metal Products (AMP), the company announced April 25. Financial details of the transaction were not disclosed.
Founded in 1988, AMP is a distributor of precision machining solutions based in Livermore, California. AMP provides services including precision metal fabrication, CNC machining, assembly, automated power coating and batch coating.
MiddleGround’s purchase of AMP is a strategic acquisition for Quebec-based CNC machining manufacturer Megatech, which MiddleGround acquired in February.
“AMP is a logical and complementary first addition to our growing platform as we continue to scale and diversify our metal production capabilities,” Megatech CEO Jean Blanchet said in a news release. “We’re excited to collaborate with the AMP team as we further extend our technology offerings to customers seeking both fabrication and CNC machining services.”
“Since the inception of our firm in the late 1980s, we’ve been recognized as a leader in the precision metal and machining industry with a strong end-to-end suit of production capabilities and ability to deliver tailored complex solutions,” AMP co-founders Mike Segundo and Phil Segundo — who serve as CEO and Vice President of Sales, respectively — said in a joint statement. “Our success has been driven by our team of talented and certified employees. We believe MiddleGround’s operational expertise and their support of our core values will make them a great partner in our next phase of growth.”
AMP primarily focuses on the homeland security, semiconductor, medical, robotics, and aerospace and defense sectors.
“With a proven track record growing both new and existing customers, we’re very excited to collaborate with the AMP team as we develop and serve future demand needs in high growth industries with attractive underlying tailwinds,” MiddleGround Investment Team Director Marty Sjoquist said in the release. “The addition of AMP’s product offerings to the existing Megatech platform allows us to introduce complementary precision sheet metal fabrication offerings as well as expand our geographical reach to technologically-advanced customers with complex production needs.”