Registered in Guernsey under the name Midland Resources Holding Ltd, the group owns a number of subsidiaries across the agriculture, manufacturing, real estate, shipping and steel industries.

The group's co-founders are billionaires Alexander Shnaider (chairman), a Soviet-born Canadian national, and Ukrainian-born Eduard Shifrin of London, UK.

Primarily active in the Commonwealth of Independent States as well as Eastern Europe and the Far East, the Midland group of companies has a presence in 34 countries worldwide.

According to the Panama Papers, in 2010, Shnaider sold at least half of Midland's ownership in Zaporizhstal steel mill to buyers financed by Russian state-owned Vnesheconombank, who were then themselves acquired by the development bank.

Under the name Midland F1 Racing, the team made its debut with a brand-new car and livery at the start of the 2006 Formula One season.