KANSAS CITY, MO (April 15, 2026) – Midland Industries (“Midland”), a portfolio company of Gemspring Capital and a leading value-added distributor and manufacturer of industrial pipe, valve, and fittings products, announced today its acquisition of Trading Services International, LLC (“TSI”). Terms of the transaction were not disclosed.
Founded in 1988, TSI is a value-added distributor of fittings, valves, coils, and other components primarily serving the HVAC market. The company specializes in difficult-to-source aluminum, copper, and brass products and maintains longstanding OEM customer relationships, supported by a global network of supply chain partners.
The acquisition expands Midland’s product portfolio, enhances its presence in attractive end markets, and strengthens its position within OEM channels. TSI’s technical expertise and differentiated product offering complement Midland’s platform and further enhance its ability to deliver high-quality products, value-added services, and reliable supply chain solutions.
“TSI has built highly differentiated, longstanding customer relationships, supported by a strong reputation for quality and exceptional service,” said Fabian de Armas, Executive Chairman of Midland. “We are excited to welcome the TSI team to Midland. This acquisition expands our product breadth, enhances our global sourcing capabilities, and positions us to deliver an even more comprehensive offering to both new and existing customers.”
“We are excited to join the Midland platform and believe the combination creates meaningful growth opportunities for our customers and suppliers,” said Joel Darr, Chief Executive Officer of TSI. “Midland’s complementary portfolio, scale, and operational resources will enhance our capabilities while preserving the service-first approach that has defined TSI.”
About TSI
Trading Services International, based in New York, New York, is a value-added distributor of specialized industrial components serving customers in the heating, ventilation, air conditioning, and refrigeration markets. The company provides a broad portfolio of aluminum, copper, and brass fittings and valves, along with technical expertise and customized solutions to support its customers’ unique production needs. For more information, visit www.tsitec.com.
About Midland
Midland Industries, headquartered in Kansas City, Missouri, is a leading value-added distributor and manufacturer of fittings, valves, hose, clamps, and related products serving a broad range of manufacturing, plumbing, utilities, HVAC, fluid power, and general industrial end markets. Founded in 1919, Midland supplies mission-critical components across diverse applications and serves as a trusted supply chain partner to customers throughout the industrial ecosystem. For more information visit www.midlandindustries.com.
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $5.1 billion of capital under management, provides flexible capital solutions to middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth, value creation and sustainable competitive advantages. Target companies have up to $2.0 billion in revenue and are in the business services, consumer services, financial and insurance services, healthcare, industrial, software, and tech-enabled services sectors. For more information, visit www.gemspring.com.