MiddleGround Capital, an operationally focused private equity firm that makes control investments in North American middle market B2B industrial and specialty distribution companies, announced it has acquired Megatech (the “Company”), a new digital manufacturing platform investment focused on computerized numerical control (“CNC”) machining of highly-complex, highly-precise, low volume engineered parts.
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“In a world in constant acceleration, Megatech’s mission is to be a leading machining shop, specialized in high precision and complex parts”
Founded in 1992 and headquartered in Québec City, Québec, Megatech has become a leader in the machining industry, distinguishing itself by its exceptional quality and precision. The Company leverages simulation, 3D visualization, analytics, and collaboration tools to produce a wide variety of products for over 100 customers utilizing its modern fleet of state-of-the-art equipment. Megatech’s customer base spans across numerous end markets including optics & photonics, robotics, non-destructive testing, medical, and A&D, among others. Supported by an efficient Material Requirements Planning (“MRP”) system and by a team of trusted partners and subcontractors, Megatech is able to offer customers quick turnaround times for orders.
“In a world in constant acceleration, Megatech’s mission is to be a leading machining shop, specialized in high precision and complex parts,” said Jean Blanchet, CEO of Megatech. “We’re excited to work with the MiddleGround team to achieve our next leg of growth through organic and inorganic strategies, while continuing to maintain the qualities that have resulted in our success thus far. Our growth to date can be attributed to our employees, equipment, processes and engineering capability along with our ability to provide highly-technical and complex machining capabilities with fast turnaround times.”
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MiddleGround will look to leverage its resources and expertise to organically and inorganically build a larger platform around Megatech focused on highly-specialized, complex, low-to-medium volume prototyping and production parts in the outsourced manufacturing space with strong revenue tailwinds driven by Industry 4.0 trends.
“With a track record of long-term growth, we look forward to supporting and accelerating Megatech’s growth strategy,” said Marty Sjoquist, Director, Investment Team at MiddleGround. “We are excited to work closely with Megatech’s experienced team to build a scaled and diversified platform, expanding the Company’s technological and manufacturing capabilities and aligning it with the tailwinds of Industry 4.0 manufacturing. Our Operations Team will help to ensure that Megatech has the tools to meet increased demand, including considering re-configuring existing facility footprints, optimizing machine utilization, adding new machines in the facility’s whitespace, and evaluating opportunities to benefit from advancements in procurement.”
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