Lindsay Precast obtains senior debt backing buyout by MiddleGround

Lindsay Precast LLC received a first-lien senior secured credit facility backing an acquisition of the company by MiddleGround Capital. Sound Point Capital Management was administrative agent, according to a company statement today.

The investment is the first platform in MiddleGround's $800 million Fund II.

Ohio-based Lindsay Precast manufactures precast concrete products for water, utility, solar, transportation and government end markets.