# MiddleGround Capital closes $440 million vehicle to combine Castle Metals and Banner Industries

MiddleGround Capital closed a $440 million continuation vehicle to purchase Banner Industries and A.M. Castle & Co., combining them into a leading metals processor and distributor with combined revenue of about $950 million.

- Type: Acquisition
- Announced: 2023-11-21
- Where: United States
- Value: $440.0M
- Status: completed
- Products: metal bar products, metals and supply chain solutions
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Banner Industries](https://endata.com/companies/451.md) (target)
- [MiddleGround Capital](https://endata.com/companies/38919.md) (acquirer)
- [A.M. Castle & Co.](https://endata.com/companies/70855.md) (target)

## Sources

- [finance.yahoo.com](https://finance.yahoo.com/news/middleground-capital-closes-440-million-120500146.html), 2023-11-21: "MiddleGround Capital today announced the successful closing of MiddleGround Carbon CV, L.P., a single asset continuation vehicle with approximately $440 million in capital commitments that provided the capital to purchase Banner Industries and A.M. Castle & Co."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.