NEW YORK–(BUSINESS WIRE)–Staple Street Capital (“Staple Street Capital” or “SSC”), a leading middle-market private equity firm with approximately $900 million of capital under management, is delighted to announce the sale of Mid States Supply (“Mid States” or the “Company”) to Ilion Capital Partners (“Ilion Capital”).
Headquartered in Kansas City, Mid States is a value-added distributor of valves, pipes, and fittings. After purchasing the Company in 2016, SSC partnered with the Company’s management team to transform Mid States to become one of the leading providers of valve modification services in the United States.
Ben Hurst, CEO of Mid States, commented, “The sale of Mid States marks the culmination of a highly successful strategic partnership between Mid States and SSC. We are grateful to the team at Staple Street Capital for the instrumental role they played in helping us facilitate the transformation of our business. As a result of SSC’s collaborative approach and operational insights and resources, we were able to position our business to provide more differentiated products and services to our customers and build a strong foundation for further growth. As we look forward to our next chapter, we are excited to partner with Ilion Capital to capitalize on the significant growth opportunities that are inherent in our business.”
The partners at Staple Street Capital added, “We are proud of the Mid States team and all that they have accomplished during our ownership. Management reinvigorated the culture, people, processes, and systems of the Company, transforming the business to have a leading position in a differentiated segment of the market, best-in-class operations, and robust prospects for long-term growth. The successful sale to Ilion Capital is a testament to the significant value creation that resulted from our partnership.”
The partners at Ilion Capital said, “Ilion Capital is excited to partner with Mid States for the next phase of the company’s growth. We have been impressed by the quality of the management team and the culture of quality and customer service that the company has maintained since its founding in 1947, and look forward to supporting the team and being a part of that legacy going forward.”
Industria Partners acted as the strategic advisor to Mid States for the transaction.
About Staple Street Capital
Staple Street Capital, a leading private equity firm with approximately $900 million of capital under management, invests in market‐leading businesses where there are transformational opportunities for value creation. SSC helps companies capitalize on strategically important opportunities and inflection points in their businesses to build stronger and more valuable companies over the long-term. Staple Street Capital typically seeks to invest $25 million – $125+ million of equity per transaction. For more information, please visit www.staplestreetcapital.com.
About Ilion Capital
Ilion Capital Partners is an operationally-focused industrials PE firm. Ilion partners with sellers and management teams to identify growth opportunities in old-economy businesses, investing both financial and human capital in lower middle market manufacturers, distributors, and industrial service providers. For more information please visit Ilioncapital.com.
Contacts
Hootan Yaghoobzadeh
Co-Founder, Managing Director
hootan@staplestreetcapital.com
