Monomoy Capital Partners has acquired Lebanon, Indiana-based Kauffman Engineering Inc, a maker of of highly-engineered wire harnesses and cable assemblies for electrical systems across the HVAC, commercial equipment, specialty vehicle, lawn care, marine, medical and other industrial markets. No financial terms were disclosed. KPMG Corporate Finance LLC provided financial advice to Kauffman Engineering on the deal while Faegre Baker Daniels LLP provided legal counsel.
NEW YORK, NY – May 8, 2019 Monomoy Capital Partners is a private investment firm with $1.5 billion in committed capital in a family of investment funds. We make investments in the debt and equity of middle market businesses that can benefit from operational and financial improvement. Monomoy announced today that it has successfully completed the acquisition of Kauffman Engineering, Inc. (“Kauffman”). Terms of the transaction were not disclosed.
Kauffman was founded in 1973 and is headquartered in Lebanon, Indiana.
Kauffman is a market leading manufacturer of highly-engineered wire harnesses and cable assemblies for electrical systems across the HVAC, commercial equipment, specialty vehicle, lawn care, marine, medical and other industrial markets. Kauffman’s design and engineering capabilities allow the company to provide complex electrical connector products for mid-to-low volume and high mix customer programs. The business operates a network of 22 facilities across the United States and Mexico.
“We are excited to partner with Mike Buis and the Kauffman team,” said Jaime Forsyth, Managing Director of Monomoy. “Kauffman is a proven, highly-regarded supplier to a diverse set of industrial manufacturers. Kauffman is also well-positioned to grow over the next several years with its nation-wide footprint. The Monomoy operating team is excited to collaborate with Kauffman to drive long-term value for all of its stakeholders.”
“The Kauffman team looks forward to working with Monomoy, whose resources and capabilities will allow us to advance our strategic and operational initiatives,” said Mike Buis, Chief Executive Officer of Kauffman. “Monomoy’s focus on operational excellence will guide our continued investment in the people, systems, and manufacturing operations that allow us to deliver quality products to our customers.”
“We are pleased to add Kauffman to our portfolio of leading industrial businesses,” said Justin Hillenbrand, Monomoy Co-CEO and Partner. “Kauffman has demonstrated an ability to grow throughout its history and has great potential for future growth in its marketplace.”
Monomoy acquired Kauffman Engineering through its third fund vehicle, Monomoy Capital Partners III, L.P. Midcap Financial Services, LLC provided acquisition financing for the transaction, Baker & McKenzie LLP provided Monomoy with legal counsel in the transaction, and Alvarez & Marsal, LLC completed financial, accounting and IT diligence for Monomoy. KPMG Corporate Finance LLC acted as the exclusive financial advisor to Kauffman Engineering in the sale and Faegre Baker Daniels LLP provided legal counsel.
About Monomoy Capital Partners
Monomoy Capital Partners is a private equity firm with $1.5 billion in committed capital that invests in middle-market businesses in the manufacturing, industrial, distribution and consumer products sectors. The firm invests in the both the equity and debt of middle-market businesses that can benefit from operational and financial improvement. Monomoy designs and executes a customized value creation plan for each acquisition that seeks to generate significant cash flow and improve earnings within 12 to 18 months of an investment. Over the past 14 years, Monomoy has closed over 50 middle-market acquisitions. To learn more about Monomoy and its portfolio companies, please visit the firm’s website at www.mcpfunds.com.
About Kauffman Engineering
Kauffman Engineering, Inc. is a manufacturer of custom specified, industrial grade wire harnesses, cable assemblies and related products for electrical system needs in HVAC, commercial equipment, specialty vehicle, lawn care, marine, and other industrial end markets. Kauffman serves high-mix/low-volume and high-mix/medium-volume customer programs and manufactures approximately 30,000 unique and highly-engineered connector parts. The Company is headquartered in Lebanon, Indiana and has a network of 15 locations across the United States and Mexico. To learn more about Kauffman Engineering, please visit the Kauffman Engineering website at www.kewire.com.