Monomoy Capital Partners has acquired Cont-Mid Group and Tiffin Holdings (together CMG), a manufacturer of metal fasteners, from the Kaminski family that has owned and operated the business over the past 10 years. Monomoy acquired CMG through its second fund, Monomoy Capital Partners II, LP.
“We are excited to welcome CMG to the Monomoy family of manufacturing businesses,” said Jaime McKenzie, a Vice President at Monomoy. “Under the leadership of the Kaminski family, the company has built a leading automotive and industrial supplier with an impressive customer list, a strong asset base and industry-leading sales growth over the past five years. We look forward to working with the CMG management team to continue improving product quality, customer service and technical innovation.”
CMG is a $240 million manufacturer of custom-engineered metal fasteners (screws, nuts and bolts), cold formed parts and stampings for car makers, automotive suppliers, and industrial manufacturers. The company’s products include seat belt fasteners, automobile door strikers and wheel nuts. CMG’s trade names include Continental/Midland, Jacobson, Tiffin, MSD Stamping and Minuteman Distribution. The company operates six facilities in Illinois, Indiana, Ohio and Michigan and has approximately 650 employees. CMG is headquartered south of Chicago in Park Forest, IL (www.contmid.com).
“We look forward to teaming up with Monomoy as we get better at everything we do,” said David Kaminski, who will remain with the business as Chief Executive Officer. “Monomoy has a great track record in the automotive industry, and we are convinced that the Monomoy team is the right group to take CMG to the next level of excellence for our customers, suppliers and employees.”
Amy Wollensack and David Milligan from Kirkland & Ellis, provided Monomoy with legal counsel for this transaction. Kimberly Rodriguez and Leonard LaRocca of KPMG, completed financial, accounting and industry diligence for Monomoy. Desiree Visceglia of Ernst & Young provided tax advice. The sellers were represented by Steve Burt, Quinn Carlson and Jeff Kirshner of Duff & Phelps and Lawrence Brenman of Greenberg, Traurig.
Monomoy Capital Partners makes control investments in middle market businesses with $50 million to $500 million in annual sales. Sectors of interest include manufacturing, distribution, consumer product and foodservice industries. Over the past five years, Monomoy has closed 43 middle market acquisitions. Its portfolio companies generate over $1.2 billion in combined sales and employ more than 6,000 people across four continents. The firm has $700 million in assets under management and is headquartered in New York (www.mcpfunds.com).
CMG joins a group of automotive suppliers currently or previously owned by Monomoy, including Compass Automotive, Gearbox, MPI Products, and Holley.
2014 PEPD • Private Equity’s Leading News Magazine • 7-28-14
