Gemspring Capital-backed Midland Industries has acquired Pegasus Supply Group, a supplier of industrial and electronic connection products including cable ties, wire harnesses and heat shrink products. The deal adds wire harness and cable assembly, engineering and custom cutting services to Midland’s offering. Pegasus operates across the US and Canada, serving a broad range of industrial and commercial end markets.

Based in Kansas City, Missouri, Midland has supplied connection products since 1919. The acquisition expands Midland’s markets and applications for customers. "Pegasus is a compelling strategic fit with Midland and represents an important next step in the company's growth," said Alex Funk, managing director at Gemspring Capital. "The business brings complementary products, differentiated technical capabilities, and longstanding customer relationships, while creating meaningful opportunities to expand the value Midland provides to its customers.".