Monomoy Capital Partners Buys MPI

Monomoy Capital Partners has acquired the assets of MPI LLC from Revstone Industries. Terms were not released. MPI is a manufacturer of high-precision, fineblanked metal components for powertrain systems and hydraulic systems.

PRESS RELEASE
Monomoy Capital Partners, a New York private equity fund focused on value investing and business improvement, announced today that it has acquired the assets of MPI, LLC (“MPI”) from Revstone Industries, LLC. Monomoy acquired MPI through its second fund vehicle, Monomoy Capital Partners II, L.P. Terms of the transaction were not disclosed.

MPI is North America’s leading manufacturer of high-precision, fineblanked metal components for powertrain systems, hydraulic systems and other safety-critical automotive and industrial applications. Fineblanking is a dual-press stamping process for cutting, shaping and machining of highly engineered metal components that produces parts with uniform flatness, unparalleled dimensional accuracy, and near-net finish. The process is ideal for manufacturing geometrically-complex powertrain and transmission components.

“MPI’s fineblanked product offering and experienced management team create an unmatched foundation for capitalizing on positive trends in automotive transmission components,” said Monomoy Partner Daniel Collin. “We are thrilled to add MPI to the Monomoy portfolio of companies.”

Headquartered in Southfield, Michigan, MPI is one of the world’s leading manufacturers of automatic transmission products, supplying automotive original equipment manufacturers (“OEMs”) with clutch plates, separator plates, and backing plates. The company’s automotive customers include several large car makers and a wide array of Tier I automotive suppliers. MPI also manufactures safety-critical and hydraulic components for heavy duty vehicles and general industrial customers. The Company employs over 700 team members at four North American manufacturing facilities and its corporate headquarters in Michigan.

“This transaction represents an exciting next step in MPI’s evolution as the premier fineblanked component supplier in North America,” said Mark Mitchell, Chief Executive Officer of MPI. “Monomoy’s operational expertise and strategic guidance will provide MPI with the necessary resources and capital to expand and improve our operations both domestically and abroad. We look forward to the opportunities ahead.”

Garry Jaunal and Stacey Kern from Baker & McKenzie, LLP provided Monomoy with legal counsel and Ernst and Young LLP provided financial and accounting diligence. Wells Fargo provided acquisition financing for the transaction.

About Monomoy Capital Partners
Monomoy Capital Partners is a private equity firm with $700 million in committed capital under management that makes control equity investments in middle market businesses in the manufacturing, distribution, consumer product and food service industries. Over the past five years, Monomoy has closed over 30 middle market acquisitions, and its companies currently produce over $1.1 billion in combined sales and employ more than 4,500 people across four continents, from North America to Asia. Monomoy implements customized business improvement programs in all portfolio companies that reduce operating expenses, increase profitability and encourage profitable growth.

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