Monroe Engineering Holdings has Acquired Magnus Mobility Systems
The Partners of ShoreView Industries are pleased to announce that Monroe Engineering Holdings, LLC (“Monroe”), a ShoreView portfolio company, has acquired Magnus Mobility Systems, Inc. (“Magnus”).
Headquartered in Irvine, CA, Magnus is a value-added supplier of casters, wheels, gas springs, and specialty bearings, primarily serving an OEM customer base. Magnus’s products are integrated into products that require mobility in their use, such as medical carts, server racks, and forklifts.
Based in Rochester Hills, MI, Monroe is a supplier of a broad portfolio of custom and standard hardware and component products for original equipment manufacturers. ShoreView invested in Monroe in November 2017. Within the first twelve months of ShoreView’s investment, Monroe completed two strategic acquisitions, Spangle Fasteners, Inc. and Magnus. In addition to a meaningful increase in financial scale, the acquisitions have significantly grown the product offering, physical locations, and management depth of the platform. The addition of the Magnus product line expands Monroe’s comprehensive component hardware offering and brings a talented team to the Monroe platform. The acquisition also expands Monroe’s geographic footprint with additional facilities in California, New Jersey, North Carolina, and Texas.
To learn more about Monroe, visit its website at: www.monroeengineering.com.