Lexington, Kentucky, February 4, 2026
MiddleGround Capital has acquired Pi Innovo from Dana Incorporated, merging its electronic control systems expertise with New Eagle. This strategic move aims to boost innovation in the mobility sector, positioning both companies to lead in developing sustainable technologies. The integration promises to expand collaborative opportunities and capabilities, which could foster job creation and further entrepreneurial growth in the Lexington area.
Lexington, Kentucky – MiddleGround Capital recently made a significant move in the private equity landscape by acquiring Pi Innovo from Dana Incorporated. This acquisition integrates the electronic control systems designer into MiddleGround’s existing portfolio company, New Eagle, which was itself acquired in November 2021. This is a noteworthy development that highlights the potential for entrepreneurial growth in the mobility sector, particularly in terms of innovation and technological advancement.
Pi Innovo, based near Detroit, specializes in embedded software solutions and electronic control units that cater to electrification, clean fuel, and specialty mobility applications. The firm’s OpenECU product portfolio includes a range of controllers integrated with engineering services designed to support commercial and specialty vehicle manufacturers. The integration with New Eagle, which provides electronic systems and control software across various industries including automotive and aerospace, promises to enhance collaborative opportunities and expand the capabilities of both companies.
MiddleGround Capital, with over $4.1 billion in managed assets, has positioned itself as a key player in the mobility sector. This latest acquisition not only supports MiddleGround’s strategic direction but also aligns with a broader trend of private equity firms seeking to capitalize on the growth of high-tech mobility solutions—a sector seen as pivotal for the future of transportation and energy.
### Expanding Capabilities and Market Reach
The merger between Pi Innovo and New Eagle is more than just a strategic acquisition; it’s an opportunity to broaden the scope of services offered to clients. John Stewart, Managing Partner at MiddleGround, emphasized that this acquisition brings growth initiatives to the forefront while enriching the flexible and secure, open functional-safety solutions provided to clients. By combining Pi Innovo’s expertise in embedded systems with New Eagle’s robust Raptor software toolchain, customers will benefit from enhanced technological solutions.
### Innovation at the Forefront
In an era where innovation is critical, the integration of Pi Innovo’s electronic control units and software solutions with New Eagle’s established platforms represents a significant leap forward. The automotive sector, in particular, is rapidly evolving toward more sustainable and efficient technologies. With heightened focus on electrification and clean fuels, this acquisition positions both companies to lead in developing next-generation mobility solutions.
### Local Impact and Job Creation
As MiddleGround Capital continues to invest in its portfolio, the local economy in Lexington stands to gain from these business advancements. The injection of resources and expertise into the region not only fosters innovation but is also poised to create job opportunities. Small businesses and entrepreneurs looking to capitalize on advancements in technology can find inspiration and partnership opportunities within this expanding business ecosystem.
### Conclusion
The acquisition of Pi Innovo by MiddleGround Capital is a testament to the resilience and innovation present in today’s economic environment. By harnessing the collective strengths of both companies, the partnership is set to drive significant advancements in the mobility sector. As Lexington continues to grow as a hub for technology and entrepreneurship, supporting local businesses and engaging with these developments is crucial for community members and investors alike.
### Frequently Asked Questions (FAQ)
What is the recent acquisition by MiddleGround Capital?
MiddleGround Capital has acquired Pi Innovo from Dana Incorporated, integrating the electronic control systems designer into its existing portfolio company, New Eagle.
What does Pi Innovo specialize in?
Pi Innovo specializes in embedded software solutions and electronic control units for electrification, clean fuel, and specialty mobility applications.
What is New Eagle’s role in this acquisition?
New Eagle, acquired by MiddleGround in November 2021, provides electronic systems and control software for various industries, including automotive and aerospace.
What is MiddleGround Capital’s focus?
MiddleGround Capital focuses on the mobility sector, managing over $4.1 billion in assets and specializing in control equity investments in middle-market B2B industrial and specialty distribution businesses.
Were the financial terms of the transaction disclosed?
No, the financial terms of the transaction were not disclosed in the announcement.
### Key Features of the Acquisition
| Feature | Description |
|---|---|
| Acquiring Company | MiddleGround Capital |
| Acquired Company | Pi Innovo |
| Integration | Into New Eagle, MiddleGround’s existing portfolio company |
| Pi Innovo’s Specialization | Embedded software solutions and electronic control units for electrification, clean fuel, and specialty mobility applications |
| New Eagle’s Role | Provides electronic systems and control software for automotive, commercial vehicle, off-highway, aerospace, and defense industries |
| MiddleGround’s Focus | Mobility sector, managing over $4.1 billion in assets, specializing in control equity investments in middle-market B2B industrial and specialty distribution businesses |
| Financial Terms | Not disclosed |
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