ShoreView Announces Sale of Monroe Engineering
The Partners of ShoreView are pleased to announce the sale of Monroe Engineering Group, LLC (“Monroe”).
ShoreView partnered with Monroe in November of 2017. At that time, Monroe’s management team was seeking a partner to help achieve the next phase of the Company’s growth. ShoreView structured a transaction that:
- Provided liquidity to the non-management shareholders
- Allowed Monroe’s managers to increase their ownership stake
- Created an equity incentive plan for key managers
- Provided management with a well-funded and experienced partner to pursue its aggressive add-on acquisition strategy
ShoreView then worked with Monroe’s management team to:
- Complete eleven add-on acquisitions to grow the platform’s product offering, expand Monroe’s geographic and end market presence, and add management depth
- Support aggressive organic growth through investments in opening new greenfield facilities
- Improve the Company’s systems, including implementing a new IT system, to support the integration of add-on acquisitions into the Monroe platform
After a period of rapid and significant growth, ShoreView exited its investment to another private equity firm that will continue to support management’s growth strategy.
About Monroe Engineering Group
Monroe is a supplier of a broad portfolio of custom and standard hardware and component products for original equipment manufacturers, based in Rochester Hills, Michigan. To learn more about Monroe, visit its website at www.monroeengineering.com.
Founded in 2002, ShoreView is a Minneapolis-based private equity firm that has raised over $1.3 billion of committed capital across four funds. ShoreView partners with family or entrepreneur-owned companies across many sectors, including engineered products, distribution, industrial services, business services, healthcare, and niche consumer products. ShoreView structures a variety of acquisition, recapitalization and build-up transactions, typically in businesses with revenues ranging between $20 million and $300 million.