Monomoy Capital carves out Trinity Highway Products, HIG buys BECO from Behrman Capital

Monomoy buys Trinity Highway Products while Behrman exits BECO.


Today’s private equity rundown includes two safety-focused deals, starting with Monomoy Capital Partners $345 million all-cash carve-out of Trinity Highway Partners from Trinity Industries.

THP makes and leases highway safety products like crash cushions, end terminals, guardrails and truck-mounted attenuators. It operates 14 manufacturing and rental distribution facilities in the United States and maintains sales offices in Europe, South America and Asia.

For Monomoy, THP is the second platform investment from the turnaround investors’ fourth private equity vehicle, Monomoy Capital Partners IV, which as of April raised over $933 million.

Monomoy, launched by former KPS Capital Partners executives, was named after Massachusetts’ Monomoy Island, which features a lighthouse that guides vessels through rough Cape Cod waters. The metaphor is apt for the firm’s strategy, which focuses on turning around underperforming lower mid-market companies in North America’s manufacturing, distribution and consumer product sectors, Buyouts Kirk Falconer wrote earlier this year.

A key difference in Monomoy’s approach, relative to that of KPS, is the emphasis on the mid-market’s smaller end, he wrote. Read more about the Trinity deal on PE Hub, and check out Kirk’s previous coverage here.

In other safety news, Behrman Capital has for a second time its history exited its investment in BECO Holding Company. The buyer is HIG Capital.

Charlotte, North Carolina-based BHC, with 16 distribution centers across the country, offers a wide range of value-added distribution and critical fire and life safety management services enabled by proprietary technology tools.

Behrman is a longtime believer in the company, as its latest seven-year investment marks its second ownership period of the company. The New York PE firm previously held a majority stake in BECO from 1998 to 2010.

Eric Smith, Chief Executive Officer of BHC, said the company’s future growth strategy will center on “expanding our national accounts platform, enhancing our products and services, and broadening our OEM partnerships and solutions offering. Read PE Hub’s brief on the deal.

For Behrman, BECO is also its second recent exit. In October, it announced the sale of Pelican Products, which designs and makes protective cases and rugged gear for professionals and outdoor enthusiasts, as well as temperature-controlled supply chain services for the healthcare industry.

That’s it for me! Have a great week ahead, and as always, write to me at with any tips, gossip or feedback.