Agrati acquires ContMid Holdings
01 November 2016
Monomoy Capital Partners has announced that it has completed the sale of ContMid Holdings Inc (CMG) to Agrati SpA for an undisclosed amount.
CMG designs, manufactures and distributes customised engineered metal fasteners to automotive companies, tier 1 automotive suppliers and industrial
manufacturers. Its products include internally and externally threaded nuts and bolts, as well as screws and related products for vehicle systems.
CMG is also described as the leading provider of Taptite® and TORX® products and wheel nuts in North America. The company is headquartered in Park
Forest, Illinois, and has six manufacturing plants in the US MidWest. Monomoy bought CMG in July 2014, introducing a new management team and rationalising
its cost structure. The sale to Agrati is expected to produce a four times return on the investment.
“Monomoy was an invaluable partner throughout the transformation of CMG over the past two years,” explained Phil Johnson, CEO at CMG. “Monomoy has
a deep bench of talented investment and operating professionals committed to working with middle market companies. It helped the CMG management
team create a dynamic value creation plan for the business and provided CMG with the resources, tools and strategic guidance we needed to execute
the plan and emerge as a market leader in every respect.”
Phil Johnson added: “We are excited about the future of CMG, and we are confident that the company is positioned for continued success as a global
leader in the fastener industry."
