AEA Private Debt Group Leads First Lien Financing to Support MPE Partners' Acquisition of Mid-States Bolt & Screw Co.

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Oct 24, 2023, 10:45 ET

BURTON, Mich. and NEW YORK, Oct. 24, 2023 /PRNewswire/ -- AEA Private Debt Group ("AEAPDG"), a leading provider of private credit to the middle market, announced that it served as Lead Arranger for a first lien credit facility in support of MPE Partners' ("MPE") acquisition of Mid-States Bolt & Screw Co. ("Mid-States" or the "Company"), a value-added distributor of fasteners and MRO products serving a diverse range of end markets.

Founded in 1973, Mid-States operates seven branches throughout Michigan and additional branches in Ohio, Wisconsin, and North Carolina, as well as numerous cribs co-located in customer facilities throughout the U.S. Within its fasteners segment, the Company sells hex caps, bolts, screws, socket products, and a wide range of other fasteners. Within MRO, the Company sells safety, janitorial, electrical, material handling, and various other MRO and related products. Mid-States also provides several valued-added services including kitting, vendor-managed inventory, vending machine management, and application engineering.

Graham Schena, Partner at MPE, said, "We are looking forward to partnering with the Somers family and the rest of the Mid-States team to accelerate the Company's growth through continued customer service and product availability, as well as organic and inorganic geographic expansion." Nick Stender, Principal at MPE, added, "The Somers family has built Mid-States into a world-class distributor over the past several decades, and has exciting growth planned. We look forward to helping Mid-States accelerate its growth while maintaining the culture and tradition of excellence that has made the Company so successful to date."

"We appreciate AEAPDG's support of the transaction and their ability to provide a flexible financing structure enabling us to position the business for success. We look forward to growing our partnership with the AEA Private Debt Group," Schena added.

John Smith, Partner at AEAPDG, said, "We are proud to partner with the MPE and Mid-States teams to provide financing for this acquisition. Mid-States is a leader in its market and a true partner to its customers, and we look forward to being a part of its next stage of growth."

About AEA Private Debt Group

AEA Private Debt Group makes senior debt, unitranche, junior debt, and equity co-investments in middle market companies across a broad range of industries and end markets. AEAPDG provides capital to support sponsor-backed leveraged buyouts, fund organic and inorganic growth initiatives, provide partial liquidity to owners, or meet other similar capital needs.

AEA Private Debt Group is part of AEA Investors LP, one of the leading, middle market private investment firms in the U.S. Founded in 1968, AEA Investors LP manages $19 billion of capital across multiple funds and investment strategies.

About MPE Partners

MPE Partners ("MPE" or "Morgenthaler Private Equity") seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with transaction values up to $250 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.

Investor Contact

AEA Investors
Investor Relations
+1 (212) 644-5900
[email protected]

Media Contact

Kate Thompson / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
+1 (212) 355-4449
[email protected]

SOURCE AEA Private Debt Group