Quantum Ventures Sells 3Sixty Group/Monroe Engineering to Ellipse Capital

Quantum Ventures of Michigan has sold 3Sixty Group/Monroe Engineering Products to Ellipse Capital. Financial terms weren’t announced. Monroe is an industrial manufacturing and distribution company.


Quantum Ventures of Michigan, LLC (www.qvmllc.com), a corporate development and private investment company specializing in middle-market opportunities across a broad set of industries, today announced the successful divestiture of 3Sixty Group/Monroe Engineering Products (Monroe). A Quantum portfolio operating asset since 2004, Monroe is a global industrial manufacturing and distribution company that currently offers a broad product line with over 25,000 SKU’s.  Quantum completed its divestiture of the Company on June 1, 2011, when Monroe was acquired by the Chicago-based private equity firm, Ellipse Capital.

“The leadership of Monroe’s team, along with their experience and extensive knowledge of the market, was integral to the Company’s excellent performance as a portfolio asset in the industrial manufacturing and distribution space,” commented Scott Kania, Quantum Chief Financial Officer. “We had a vision for the long-term goals of Monroe, which was shared by their management. From the acquisition stage, through successful divestiture, the execution of that vision was done extremely well. Quantum will continue pursuing opportunities within the middle market that strategically align with our long-term operating goals.”

“We enjoyed working with the team at Quantum to complete the transaction and are very excited about working with the team at Monroe to capitalize on future growth opportunities,” said Peter Gotsch, Ellipse Capital Managing Partner.

Monroe General Manager, Dave Scharrer, will continue to oversee the development of new product lines and value added services for Monroe.

“Since 2004, Monroe has continued to add products and manufacturing capabilities enabling us to continually add value for our customers,” commented Scharrer. “The Ellipse team shares our vision to continue adding product lines and value added services.  We are excited for the future.”

Monroe’s Michigan-based employees will continue to work out of its headquarters in Auburn Hills, Mich., where its offices and state-of-the-art warehouse have been located since 2009.

About Quantum Ventures of Michigan

Quantum Ventures of Michigan is a corporate development and private investment company based in Auburn Hills, Mich. The Company considers opportunities across a broad set of industries, but has particular interest in industrial parts manufacturing, distribution, industrial equipment, interactive technologies, and financial services. Quantum is differentiated from other corporate development firms by its unique approach to middle-market management, which is guided by a carefully assembled executive team with a blend of strategic, operational and financial expertise.

Quantum’s leadership team consists of professionals that have served as CEOs, CFOs, COOs, and senior legal advisors to public and private companies with revenues ranging from $5 million to over $1 billion. As a result, it has proven track record of acquiring, operating, growing, and harvesting middle-market businesses. To learn more about Quantum and its companies, visit www.qvmllc.com.

About Ellipse Capital

Ellipse Capital is a private equity firm focused on investing in growth-oriented distribution businesses across a broad range of end-markets. Through a unique combination of experienced investment professionals, an outstanding track record, extensive industry contacts and relevant insights, our mission is to be the premier investor in leading distribution businesses and the partner of choice for management teams and owners that are committed to growing their businesses. Visit www.ellipsecapital.com to learn more about Ellipse Capital.

About Monroe

Based in Auburn Hills, Mich., Monroe, LLC is the largest specialty knob, handle and hand wheel manufacturer in the United States. Leveraging a global supply chain of electronic, metal, plastic and rubber products, Monroe acts as a quality component supplier for its customers’ light manufacturing requirements. For more information on Monroe, visit www.monroeengineering.com.