MiddleGround Management, LP acquired A.M. Castle & Co. on June 15, 2023. Fifth Third Bank partnered with MiddleGround Capital to provide the senior financing in the transaction and serves as Caste Metal?s sole bank lender, post-close. Going forward, MiddleGround is looking to transition it's Banner Platform which it acquired in 2019, into a Special Purpose Vehicle in which Banner and Castle would combine under one capital structure. Ducera Partners acted as financial advisor to Castle Metals. Eric Orsic, Ann Marie Brodarick, Gregory E. Heltzer, Timothy (Ty) Carson, Alex Farr, Patrick D. Ryan, Brian Mead, David P. Saunders, Sarah Bro, David J. Levine, Jacob Hollinger, Stéphane Dionnet, Sabine Naugès, Deniz Tschammler and Kathy Schumacher of McDermott Will & Emery LLP acted as legal advisor to A.M. Castle & Co. Lazard Freres & Co. LLC acted as financial advisor to MiddleGround Management, LP.

MiddleGround Management, LP completed the acquisition of A.M. Castle & Co. on June 15, 2023.