Monomoy Capital Partners, a heading private equity account focused on low value investing and business alleviation in reduce center marketplace companies, announced it has finished a sale of Compass Automotive Group to a Shipston Group Inc. for an undisclosed amount. The Compass investment constructed a 3.4x sum cash-on-cash lapse for Monomoy and a investors.
Headquartered in Franklin, Indiana, Compass designs and manufactures aluminum framework and cessation components for a North American automotive industry. Monomoy shaped Compass in Nov 2007 by mixing an existent portfolio association with aluminum casting resources acquired from Alcoa Inc. Compass after acquired resources out of bankruptcy, waif groups of incomparable industrial companies and an undermanaged family-owned business. Despite a fall of a automotive attention in 2009 and 2010, Monomoy built Compass into a essential automotive retailer by operative with a association to connect facilities, sell non-core assets, spin out a multiplication into a stand-alone business and exercise gaunt production via a company’s operations.
Today, Compass is one of a largest aluminum foundries in North America that reserve framework and cessation components to a automotive industry, and a association designs and manufactures safety-critical aluminum collection for dozens of vehicle and light lorry models. Under a superintendence of Monomoy and a world-class operations group, Compass also has turn an attention personality in product design, production quality, on-time smoothness and handling costs, according to Monomoy.
“While Compass faced rare hurdles during a ownership, we resolutely believed that an operationally-focused value origination plan would emanate a profitable, energetic business out of a underperforming resources we acquired from a accumulation of sellers,” pronounced Justin Hillenbrand, a partner and co-CEO of Monomoy. “We are unapproachable of Compass’ mutation into a healthy business, and we are assured that a association is positioned for continued success underneath a new owner.”
“Compass offers a primary instance of Monomoy’s core investment strategy,” combined Stephen Presser, a Monomoy partner. “We purchased a array of waif businesses in formidable transactions, leveraged a firm’s singular operational capabilities to expostulate giveaway money upsurge and boost gain and successfully sole Compass as a flourishing association to a vital buyer. This proceed to value origination combined clever gain for a investors by an mercantile retrogression that challenged a core of a automotive industry.”
“Monomoy was an useful partner by a origination and restructuring of a company,” explained Craig Conaty, CEO of Compass. “Monomoy has a gifted and low dais of investment and handling professionals committed to operative with center marketplace companies like Compass. Throughout a past 8 years, Monomoy supposing Compass and a government group with a resources, collection and vital superintendence we indispensable to navigate a formidable time in a attention and to emerge as a marketplace personality in each respect.”
BMO Capital Markets acted as a financial confidant to Monomoy in a sale of Compass. Kevin Morris and Evan Knobloch of Kirkland Ellis LLP supposing authorised warn to both Compass and Monomoy. Ernst Young yield peculiarity of gain support for Compass in a sale routine and Aon Risk Management supposing word recommendation to a effusive Compass Board of Directors.