Staple Street acquires Mid-States Supply, distributor of valves and pipes

Staple Street Capital, the New York middle-market private equity firm, said that an affiliate acquired substantially all of the assets of Mid-States Supply Co, the Kansas City, Missouri, distributor of industrial valves, pipe, automation products, fittings, steam specialty items and controls. Terms weren’t disclosed. The deal was done via a stalking-horse bid in U.S. Bankruptcy Court, the firm said. Kirkland & Ellis was legal adviser to Staple Street Capital. Staple Street is currently investing out of a $265 million PE fund. It typically seeks to invest $15 million to $75 million of equity per transaction.

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