The L.S. Starrett Company (SCX) has finalized a merger agreement with MiddleGround Capital's affiliate in an entirely cash transaction, setting the deal at $16.19 per share. Once the merger is completed, Starrett will fully integrate under MiddleGround and will cease to list its Class A common stock on any public market.
Commenting on the agreement, Douglas Starrett, CEO of the L.S. Starrett Company, stated, "After extensive engagement with potential partners, our Board of Directors concluded that MiddleGround is the most appropriate partner for Starrett, given their profound understanding of the manufacturing industry."
