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In December 2019, Banner Industries, LLC (“Banner” or the “Company”), a portfolio company of High Street Capital, was acquired by MiddleGround Capital (“MiddleGround”).

Duff & Phelps served as exclusive financial advisor to the shareholders of Banner and provided M&A advisory services in connection with the sale transaction.

About Banner Industries, LLC
Headquartered in Carol Stream, IL, Banner is a leading provider of value-added precision metal products and supply chain solutions for a diverse mix of industrial OEMs, medical device manufacturers, metal service centers and precision machine shops. The Company leverages unmatched sourcing relationships and a full suite of processing capabilities providing a one-stop-shop solution for customers. Banner has cemented market-leading positions through two distinct business segments: Banner Service Corporation for commercial and industrial customers and Banner Medical Innovations for orthopedic and medical end markets. Perkins Coie LLP and Michael Best & Friedrich LLP served as legal counsel to Banner.

About MiddleGround Capital
MiddleGround is a private investment firm with offices in New York and Kentucky, focusing on investments in business-to-business industrial and specialty distribution companies in the North American lower middle market. MiddleGround is an operations-focused group, working closely in support of management to build long-term sustainable value through the implementation of strategic and operating initiatives. Greenberg Traurig served as legal counsel to MiddleGround.

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Corporate Finance

Comprehensive support throughout mergers and acquisitions and other corporate transactions.

Corporate Finance

M&A Advisory

Middle-market M&A advisory differentiated by industry expertise and superior deal execution.

M&A Advisory

Industrials M&A

Industrials expertise for middle-market M&A transactions.

Industrials M&A
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Transaction Advisory Services

Seamless analytical advisory through the deal continuum, from transaction origination to closing.

Transaction Advisory Services
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Financial Sponsors Group

Dedicated coverage and access to M&A deal-flow for financial sponsors.

Financial Sponsors Group

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Valuation and consulting for financial reporting; federal, state and local tax; investment; and risk management purposes.

Valuation Advisory

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Innovative tax advisory and compliance services encompassing property tax, sales and use tax, and site selection and incentives.

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