New Firm Launched In Indy

A group of five private equity professionals, with previous connections to Indianapolis-based Hammond, Kennedy, Whitney & Co. (HKW), have teamed together to launch Monument MicroCap Partners (MMP).

MMP will look to acquire historically profitable US and Canadian-based companies that have EBITDA from $1 million to $5 million. Sectors of interest include niche manufacturing with meaningful intellectual property, technology or engineering content; business services with sustainable differentiation; and value-added distribution and supply chain management.

The founding partners of MMP include:

  • Glenn Scolnik; Mr. Scolnik previously served as chairman, CEO and president of HKW and retired from the firm at the end of 2017. He is now the managing partner of MMP.
  • Bob Erwin; Mr. Erwin served as a managing director of Barings from 2003 to 2018. He is now the chief executive officer of MMP.
  • Roy Whitney; Mr. Whitney joined HKW in 1971 and was the CEO and chairman of the firm until 1999. He is now a partner of MMP.
  • Rob Troxel; Mr. Troxel was the CEO of Nesco, a portfolio company of HKW from 2007 to 2011. Nesco provides fleet equipment rental, sales and services to the electrical transmission and distribution market. He is now a partner of MMP.
  • Jim Futterknecht; Mr. Futterknecht was an operating partner at HKW from 1999 to 2012. From 2010 to 2016 he was also the CEO of Visioneering, a designer, manufacturer and installer of assembly automation tooling systems used in the aerospace and defense industry. Visioneering was a portfolio company of HKW from 2007 to 2013. He is now a partner of MMP.

“At Monument MicroCap Partners, we don’t call ourselves ‘buyers’ or ‘acquirers’. Instead, we consider ourselves in partnership with managers and business owners,” said Mr. Erwin. “We understand our role as good stewards of the businesses that have been so carefully and painstakingly created by families and entrepreneurs. MMP’s mission is to partner with honest and hard-working management teams to build great businesses, and if and when needed, we will provide expertise and strategic guidance in fulfillment of that goal.”

MMP is headquartered in Indianapolis (

© 2018 Private Equity Professional | August 15, 2018

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