MiddleGround Capital completed the acquisition of PVI Holdings from Pon.

MiddleGround Capital, a private equity firm, completed the acquisition of PVI Holdings, a distributor that provides flow control solutions to various markets, from Pon, a holding company. Financial terms were not disclosed. "It was a cultural fit from our first meeting, MiddleGround brings a unique style to private equity that has my team fired up about the future. We value their operational expertise, passion for continuous improvement, and believe they are the perfect owner for PVI’s next phase of growth," Brad Bergeron, PVI CEO.