MiddleGround Capital has acquired Pi Innovo, enhancing its portfolio in the mobility sector by integrating Pi Innovo's advanced electronic control systems with New Eagle's engineering solutions.

Target Company Overview

MiddleGround Capital, a private equity firm based in Lexington, KY, has acquired Pi Innovo, a company specializing in the design and development of open platform electronic control systems and software. Founded in 2011 and headquartered near Detroit, Michigan, Pi Innovo offers embedded software solutions and electronic control units tailored for electrification, clean fuel, and specialty mobility applications. Their OpenECUTM product line features both off-the-shelf and project-specific controllers, along with engineering services that cater to commercial and specialty vehicle Original Equipment Manufacturers (OEMs) and Tier-1 suppliers.

The acquisition is part of MiddleGround's strategy to enhance its portfolio, integrating Pi Innovo with New Eagle—another MiddleGround investment. New Eagle is an innovator in engineering solutions, focusing on electromechanical control systems and software for diverse industries including automotive, aerospace, and defense. This integration aims to broaden the capabilities of both companies and leverage their strengths in the mobility sector.

Industry Overview in the U.S.

The mobility sector in the United States is experiencing a transformative shift driven by the increasing demand for sustainable and efficient transportation solutions. With more automotive manufacturers transitioning to electric vehicles (EVs) and hybrid system