Investment Overview
Investment Overview
Project & Company
Background
In late 2017, the Monroe management team was looking for a partner to help support and accelerate the Company’s growth. ShoreView structured a transaction that provided liquidity to Monroe’s non-management shareholders while allowing management to increase their ownership stake in the business going forward. ShoreView and management worked closely to execute on strategic initiatives, completing 11 add-on acquisitions and continuing digital marketing investment to drive organic growth over a four-year period. During ShoreView’s partnership with Monroe, revenue and earnings more than quadrupled, resulting in a successful outcome for all equity holders.
Investment Summary
Investment Summary
Investment Summary
Monroe is a leading supplier of a broad portfolio of custom and standard hardware and component products for original equipment manufacturers. The company serves customers across a broad range of industries, including medical, renewable energy, aerospace, defense, and other diversified industrial markets. Monroe is differentiated in the industrial supply space by its best-in-class digital marketing model, which drives traffic to the company’s websites and allows customers to efficiently procure components. ShoreView and management implemented a growth plan to rapidly scale the platform.
Add-on Acquisitions
Add-on Acquisitions
Over a four-year period, Monroe completed 11 strategic add-on acquisitions. These add-on acquisitions grew the platform’s product offering, expanded Monroe’s geographic and end market presence, and added management depth. The add-on acquisitions were integrated into the Monroe platform and immediately benefitted from Monroe’s digital marketing expertise. They also brought new product lines and customers to the platform, creating opportunities to cross-sell products.
Digital Marketing and Organic Growth
Digital Marketing and Organic Growth
ShoreView supported Monroe’s continued aggressive digital marketing strategy to drive new customer acquisition. To further drive organic growth, Monroe launched several new product lines, added additional manufacturing capabilities, and opened new greenfield facilities under ShoreView’s ownership.
Systems Improvement
Systems Improvement
ShoreView worked with management to evaluate and implement a new ERP system capable of supporting and integrating the Company’s 11 add-on acquisitions and 27 facilities.
Outcome
Outcome
The Results
During ShoreView’s four-year partnership with Monroe, the company’s revenue and earnings more than quadrupled. As a result, the equity holders, including management, realized an exceptional return on their equity investment. Monroe remains well-positioned to continue its growth as a leading supplier of industrial components.
The portfolio companies profiled in these case studies do not constitute all of the investments made or recommended by ShoreView. The portfolio companies selected for these case studies have been chosen solely based on objective non-performance-based criteria and are intended solely to illustrate the breadth and depth of ShoreView’s investment strategies and experience. It should not be assumed that any future investments will be profitable or will equal the performance of the investments identified above. Past performance is not indicative of future results.