Promotion underscores firm's expanding European strategy and strong operational capabilities across the region
LEXINGTON, Ky., May 07, 2026 (GLOBE NEWSWIRE) -- MiddleGround Capital ("MiddleGround"), an operationally focused private equity firm that makes control investments in North American and European headquartered middle-market B2B industrial and specialty distribution companies, today announced the promotion of Alexander van der Have, Managing Director and Head of the European office, to Partner, effective May 1.
Since MiddleGround launched its Amsterdam office in January 2023, Mr. van der Have has played a key role in building and expanding the firm's European presence. He has been instrumental in sourcing and executing investments, developing local relationships, and implementing MiddleGround's hands-on, operationally-focused approach across the region.
Mr. van der Have has over 15 years' operations experience across private equity and venture capital. In his most recent role before joining MiddleGround in 2023, he was part of the management team running the private equity business at Ingka Investments, the investment arm of the IKEA Group. Prior to that, he held senior investment management roles at a number of private equity firms.
Throughout his career, Mr. van der Have has served as a board member for various companies active in mobility, (additive) manufacturing, logistics, financial services and cleantech. He holds a degree in Corporate & Commercial Law from Erasmus University Rotterdam and an MBA from IE Business School.
Under Mr. van der Have's leadership, MiddleGround's European office has completed four platform investments and three add-on investments that reflect the firm's focus on industrial technology, automation, and mission-critical manufacturing businesses across Europe. Platforms include:
- Xtrac, a UK-based manufacturer of high-performance transmissions serving the motorsports and aerospace sectors
- IT8, a Spain-based global engineering services provider focused on industrial automation
- Helix, a UK-based manufacturer of electric drive systems serving the motorsports, marine, and aerospace sectors.
- Stemmer Imaging, a Germany-based provider of machine vision solutions.
"Alex has been a critical driver of our success in Europe," said John Stewart, Founding and Managing Partner of MiddleGround. "He has demonstrated strong investment judgment, deep market insight, and a commitment to our hands-on approach. Just as importantly, he has helped us build a team in Europe that reflects our operational DNA. His promotion to Partner reflects both his contributions to date and the important role he will continue to play as we grow our platform internationally."
"I'm honored to be named Partner at MiddleGround," said Mr. van der Have. "Since launching our European office in 2023, we have built meaningful momentum and a strong team on the ground. We see a compelling opportunity set ahead across the industrial landscape in Europe driven by the current trends in industrial reshoring, aerospace and defense spending, and industrial automation. I look forward to continuing to help grow our presence in the region."
MiddleGround's European strategy is focused on identifying opportunities in sectors benefiting from long-term structural tailwinds, including industrial automation, specialty manufacturing, and aerospace and defense.
Important Disclosures
References to specific investments or portfolio companies included herein are provided for informational purposes only. Such references do not imply that any past or current investment was or will be profitable, and no assumption should be made that any investment identified is representative of the Firm's current or future investments, investment strategies, or outcomes. Past investment activity is not indicative of future results.
About MiddleGround Capital
MiddleGround Capital is a private equity firm based in Lexington, Kentucky with over $4.1 billion of assets under management. MiddleGround makes control equity investments in middle market B2B industrial and specialty distribution businesses. MiddleGround works with its portfolio companies to create value through a hands-on operational approach and partners with its management teams to support long-term growth strategies. For more information, please visit: https://middleground.com/.
Media Contacts:
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