LEXINGTON, Ky., September 3, 2019-- MiddleGround Capital (“MiddleGround”), a private equity firm that makes control investments in business-to-business (“B2B”) industrial and specialty distribution companies in the North American lower middle market, today announced the final close of Fund I, MiddleGround Capital I, LP. MiddleGround Capital was formed in May of 2018 by John Stewart, Lauren Mulholland and Scot Duncan. John Stewart started his career at Toyota Motor Corporation as an hourly line worker at Toyota’s largest facility in the world, in Georgetown, KY. After an 18-year career and successive promotions, John made the transition into private equity in 2007.