The LS Starrett Company, a manufacturer of sawing machines, precision tools and metrology
systems, has entered into a definitive merger agreement in a go-private transaction with an affiliate of MiddleGround Capital in an all-cash transaction for $16.19 per share.

MiddleGround Capital is a private equity firm based in Lexington, Kentucky with over $3.5bn
of assets under management.
“We are pleased to reach this agreement with MiddleGround, which provides a meaningful
premium cash value to our shareholders,” says Douglas Starrett, company chair, CEO and
president. “Following comprehensive outreach to potential parties, our board of directors
determine that MiddleGround is the right partner for Starrett because of its deep
knowledge within the manufacturing industry. As a private company, the company will have
additional financial and operational flexibility to continue providing industry-leading service
and products to customers across our markets. We will also maintain Starrett’s proud
tradition among its employees, communities and other stakeholders.”
Adds John Stewart, MiddleGround’s managing Partner: “MiddleGround is thrilled to be
partnering with Starrett, a company that we have followed in the public markets for several
years. Most of MiddleGround’s operations team gained familiarity with Starrett products
over the course of their manufacturing careers, and we’re excited about the opportunity to
further position the company for its future on the front lines of innovation, advanced
manufacturing and reshoring.”
The transaction is expected to close this summer, subject to the requisite approval by
Starrett’s shareholders and other conditions. Following its completion, Starrett will become
a wholly owned subsidiary of MiddleGround and Starrett’s Class A common stock will no
longer carry a listing on any public market.
More information www.starrett.com