Monomoy Capital Partners has acquired Kauffman Engineering, a manufacturer of wire harnesses and cable assemblies.
Kauffman’s custom specified and industrial grade wire harnesses and cable assemblies are used in electrical systems in the HVAC, commercial equipment, specialty vehicle, lawn care, marine, and medical markets.
The company serves high-mix/low-volume and high-mix/medium-volume customer programs. Kauffman, led by CEO Mike Buis, operates multiple manufacturing facilities throughout the US and Mexico and is headquartered near Indianapolis in Lebanon, IN (www.kewire.com).
“We are excited to partner with Mike Buis and the Kauffman team,” said Jaime Forsyth, a 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.”
Monomoy makes control investments of debt and equity in companies with at least $150 million in sales, $15 million of EBITDA, and enterprise values of up to $500 million. Sectors of interest include manufacturing, industrial, distribution, and consumer products. The firm is headquartered in New York (www.mcpfunds.com).
Monomoy acquired Kauffman Engineering through its third fund, Monomoy Capital Partners III LP, which closed in June 2016 with $767 million of capital. “We are pleased to add Kauffman to our portfolio of leading industrial businesses,” said Justin Hillenbrand, Monomoy’s co-CEO and partner. “Kauffman has demonstrated an ability to grow throughout its history and has great potential for future growth in its marketplace.”
MidCap Financial, as sole lead arranger, sole bookrunner, and administrative agent, provided acquisition financing for this transaction. The MidCap deal team was led by Josh Rothenberg.
KPMG Corporate Finance was the financial advisor to Kauffman Engineering.
© 2019 Private Equity Professional | May 10, 2019
