Gemspring Capital-backed Midland Industries has acquired Pegasus Supply Group, a supplier of industrial and electronic connection products, for undisclosed terms.
Pegasus supplies cable ties, wire harnesses, heat shrink products and related maintenance and repair products, alongside value-added services including wire harness and cable assembly, engineering and technical support, and custom cutting and marking. The company operates in the US and Canada, serving a broad range of industrial and commercial end markets.
Based in Kansas City, Missouri, Midland supplies fittings, valves, hose, clamps, flow-control products and related connection solutions to manufacturing, plumbing, utilities, HVAC, fluid power and general industrial customers. The acquisition broadens Midland’s product offering with complementary connection products and capabilities, creating additional opportunities to serve customers across a wider range of applications.
“Pegasus is a compelling strategic fit with Midland and represents an important next step in the company’s growth,” said Alex Funk, managing director at Gemspring Capital. “The business brings complementary products, differentiated technical capabilities, and longstanding customer relationships, while creating meaningful opportunities to expand the value Midland provides to its customers.”
Editor’s note: This news brief was produced with the assistance of artificial intelligence.