Private-Equity Firm MiddleGround Capital Acquires ShilohDecember 3, 2020
MiddleGround Capital, Lexington, KY, has acquired majority ownership of Shiloh Industries, Inc., its second automotive deal closed during the COVID-19 pandemic. Shiloh is a global innovative-solutions provider focusing on lightweighting technologies that provide environmental and safety benefits to the mobility market. The company designs and manufactures products within body structure, chassis and propulsion systems, fabricated from a variety of alloys in aluminum, magnesium and steel grades, along with its proprietary line of noise and vibration reducing acoustic laminate products.
Says MiddleGround partner John Stewart, “The automotive industry is undergoing a major transformation. … We believe Shiloh is uniquely positioned to support the transformation of the vehicle as a trusted partner with proven technology for vehicle light weighting and the electrification of the powertrain.”
Shiloh CFO Lillian Etzkorn adds, “While the restructuring process can create stress across an organization, we found comfort in partnering with a firm that not only had the right operational experience, but also shared our strategic vision for the future of Shiloh.”
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