Blackstone-backed Chamberlain Group to acquire Arrow Tru-Line from MiddleGround Capital.

Blackstone-backed Chamberlain Group, a company specialising in intelligent access and monitoring with leading brands including LiftMaster and myQ, agreed to acquire Arrow Tru-Line, an independent manufacturer and supplier of structurally critical overhead garage door hardware components, from MiddleGround Capital, an operationally focused private equity firm. Financial terms were not disclosed. “Since we acquired Arrow Tru-Line in late 2021, Tom and the management team have done an exceptional job operating the business and positioning the company for the future, while preserving core manufacturing jobs that are so important for the US economy. In partnership with our operations team, the management team has vertically integrated the business to drive further value for customers. Through the execution of operational improvements, the company has substantially improved free cash flow conversion and profitability. Additionally, we are excited to provide our investors with much-needed liquidity. The fact that we have been able to achieve such a positive outcome given the economic conditions of the last four years is a testament to our team and our investment strategy," John Stewart, MiddleGround Founding and Managing Partner.