National Kwikmetal Service, Des Plaines, Ill., has been acquired by MiddleGround Capital, which operates 10 portfolio distribution and manufacturing companies. The acquisition offers NKS and its customers the benefits of advanced operational expertise, as well as a range of new products, the companies claim.
Established in 1989 as a small-order specialist, NKS has grown to be one of the largest, independently owned flat-rolled stainless service centers in the United States. NKS services customers in critical industries throughout North America from its four operating facilities; three in the United States and one in Mexico.
NKS will operate as an add-on company to Banner Industries, based in Carol Stream, Ill. Banner is a premier supplier of precision ground bar, centerless grinding, turning, straightening and other value-added services. Materials include carbon and alloy steel, stainless steel, aluminum, brass, nickel alloys, and titanium.
“MiddleGround and Banner will enhance our capabilities and support NKS as it expands both geographically and with new product offerings,” said Vince Cmelo, NKS vice president commercial. “Our sales team will continue to provide the high level of service, and quality products that our customers rely on in this fast-moving environment.”
“With the additional capabilities that NKS brings to Banner, we look forward to what this next phase of growth means for our collective customers,” added Dan Stoettner, Banner Industries CEO.