Lexington-based MiddleGround Capital, a private equity firm that invests in North American middle market B2B industrial and specialty distribution companies, announced Tuesday that it has acquired Arrow Tru-Line Inc., Archbold, Ohio. Financial terms of the deal weren’t disclosed.
Arrow Tru-Line is an independent manufacturer and supplier of overhead garage door hardware components that sells into both the residential and commercial markets. It manufactures and distributes a range of garage door hardware including hinges, brackets, angles, tubes, springs and pre-assembled track sets for its OEM and dealer/distributor customers. Arrow Tru-Line sells into both the repair and remodel and new construction end markets.
“We are impressed by the success Arrow Tru-Line has achieved to date and look forward to supporting its continued growth in the garage door space and identifying additional avenues for the company’s expansion under our ownership,” said MiddleGround Founding Partner Lauren Mulholland. “We have been looking to invest in the building products sector for some time, and Arrow Tru-Line aligns with the strong demand in the housing market due to a shortage of new home construction.”