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Staple Street Capital acquires Mid-States Supply.

BANKING AND CREDIT NEWS-April 25, 2016-Staple Street Capital acquires Mid-States Supply


An affiliate of Staple Street Capital has acquired substantially all of the assets of Mid-States Supply Company in a transaction effectuated through a stalking horse bid in a Section 363 process in US Bankruptcy Court, the company said.

Kirkland & Ellis served as legal advisor to Staple Street Capital. SSG Capital Advisors and Frontier served as investment banker in the transaction. Spencer Fane and Winter Harbor served as legal and restructuring advisors, respectively, to the seller.

Mid-States is a leading value-added distributor of industrial valves, pipe, automation products, fittings, steam specialty items and controls. Mid-States provides its customers with a variety of value-added solutions, including: valve actuation, custom fabrication and retrofitting, steam audits and management, and just-in-time and on-site inventory management programs.

Staple Street Capital is a private equity firm that invests in market-leading businesses, where it can provide the strategic oversight, financial resources and access to a network of world-class executives to help its portfolio companies reach their full potential. Staple Street Capital is currently investing out of a USD265 million private equity fund and typically seeks to invest USD15 million - USD75 million of equity per transaction.

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Publication:M2 Banking & Credit News (BCN)
Date:Apr 25, 2016
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