Monomoy Capital Partners has done its fourth deal in four months with the purchase of manufacturing unit L&P Plastics from Leggett & Platt for an undisclosed amount.
The operating unit, which makes parts for power tools, medical devices, furniture and vehicles, expands the firm’s manufacturing portfolio, which has been growing since the firm’s founding in 2005.
Other manufacturers in its portfolio include Compass Automotive Group, the largest maker of safety-critical auto-parts, glassware-maker The Anchor Hocking Company, and Kurz-Kasch, a maker of diesel engine parts.
“This is an ideal acquisition. This company has got a reason to exist, it has a real asset base, a good customer base,” said Mayank Singh, a vice president with Monomoy.
Monomoy, a New York-based buyout firm, is currently investing a $280 million (€192 million) buyout fund that closed in February 2007. In July it purchased Carlton Creek Ironworks; in August it bought catalog and internet retailer Boston Apparel Group; and in September, it took control of imaging supplier Katun. No financial details of the transactions were disclosed.