Yellow Cardinal Mergers & Acquisitions Announces the Sale of Midwest Fasteners, Inc.

About the transaction

Yellow Cardinal Mergers and Acquisitions is pleased to announce the sale of Midwest Fasteners to Resonant Growth Partners LLC. Founded in 1993 and based in Miamisburg, Ohio, Midwest Fasteners designs and assembles capacitor discharge (CD) stud welding equipment and manufactures insulation pins, lacing anchors, washers, caps, cupheads, and other related accessories.

Resonant Growth Partners LLC (“RGP”) has formed Industrial Construction Materials Holdings, Inc., to acquire companies that make products used in industrial construction, repair, and maintenance and that are poised to benefit from growth in the U.S. industrial base. On December 12, 2024, Industrial Construction Materials Holdings, Inc. completed its first investment with the acquisition of Midwest Fasteners, Inc.

“Midwest serves as a one-stop provider for CD stud welding products used in mechanical insulation and by customers who use stud welding to assemble equipment. Distribution partners value Midwest’s ability to satisfy the varied demands of the wide-ranging mechanical insulation market with high-quality, U.S.-made products. We are excited to partner with Midwest’s management team to support continued growth, and to identify add-on acquisitions,” said Jeff Goodrich, RGP’s Managing Partner. Jeff Leone, Operating Partner, agreed, adding, “We are big believers in the resurgence of the domestic supply chain, and Midwest was a great fit for Industrial Construction Materials Holdings’ mandate – an operationally sound company, well regarded by its customers, positioned to benefit from the reshoring trend and from increased investment in the power generation, energy, and process industries.”

Enthusiasm for Midwest’s prospects was echoed by Tom Hartmann, Midwest’s founder, who said, “I knew RGP was the right fit for my company – the depth and breadth of the team’s experience, as well as their support and communication during the sale process, gives me confidence that they are the people I want guiding the business I built for 37 years through its next stage of growth.” Nate Conley, the company’s CEO, said, “I look forward to working with Resonant to expand Midwest’s reach and product line, all while continuing to provide the high level of responsiveness and service we know our customers depend on.”

Debt financing for the transaction was provided by Oxer Capital and First Financial Bank.

About Resonant Growth Partners LLC

Formed in 2024, RGP provides sound, seasoned support to its portfolio companies and is founded on the premise that alignment and good communication among sellers, management teams, and investors are key to successful outcomes.

About Yellow Cardinal Mergers and Acquisitions 

Yellow Cardinal Mergers and Acquisitions was the exclusive financial advisor to Midwest Fasteners in connection with the sale of the Company. Yellow Cardinal assists buyers and sellers in navigating the complexities of M&A transactions. With over 150 years of combined experience, Yellow Cardinal has a wide range of capabilities and expertise including sell-side merger and acquisition, buy-side strategy and execution, and business succession services.

Yellow Cardinal Mergers and Acquisitions Leadership