Monomoy Investments

Every time you buy flowers for your mother, a Monomoy investor smiles. That's because the arrangement is likely in a vase made by The Anchor Hocking Company, a portfolio company since 2007. Anchor is the largest maker of vases and candle jars in the country and the largest supplier of glassware to mass market retailers including Walmart and Target. Because Anchor sells value-based products, it remains thriving and profitable through the recession. Anchor's strong, experienced workforce-including a terrific sales staff-made the company an attractive investment. We acquired Anchor's assets from the bankruptcy of Global Home Products and contributed our expertise to reduce manufacturing, purchasing and other costs. Anchor made no money when we bought it. It makes a lot of money today. Strategic acquisitions of Indiana Glass and Alco Consumer Products allowed us to launch a new product line: the Anchor Home Collection of houseware accessories.

This is all about the brownie. One of the largest privately-owned bakeries in the United States, Awrey supplies sweets and baked goods to major food distributors, national restaurant chains and retail outlets in North America and Asia. Monomoy acquired the assets of Awrey out of bankruptcy in partnership with Hilco Equity Management, spurred by the opportunity to bring professional management to a family-owned business and introduce lean manufacturing into the bakery industry. We continue to build Awrey with the goal of transforming a regional brand into a national presence. Today, Awrey is growing its sales and profit margins despite the recession. In 2009, we added Atkins Elegant Desserts to the Awrey family to give us greater reach into national restaurant chains — and a near-perfect cheesecake. 

U.S. and Canadian truck stops are a retail trove of trinkets for travelers, and Barjan fills them with more than 8,000 SKUs — toys, gadgets, chemicals, additives, sunglasses and automotive accessories. Barjan is the leading distributor of retail merchandise to the truck stop and travel center industry and the largest manufacturer of CB radio antennae in the world. (Someone has to do it.) We contributed financial and operational expertise to bring a stronger product assortment to the sector, helped the company source products from Asia, and expanded distribution capabilities into new channels.  In 2010, the company purchased ETW, a nationwide distributor of hand tools and shop equipment.  In late 2010, we exited our investment in Barjan through a merger between Barjan and TSC Global, creating a $175 million full service distributor to truck stops, travel centers and convenience stores.

Yes, we actually own an auto component supplier that has remained healthy amid the worst industry collapse in history. Compass Automotive is a company Monomoy built out of four underperforming businesses in the automotive supply chain. Compass makes the metal components that attach your wheel to the axle and allow you to steer your car, including steering knuckles and control arms. Compass supplies nearly every automotive company in North America with lightweight, aluminum parts, which make cars more fuel efficient. We saved Compass from the automotive collapse through the relentless application of lean manufacturing and cost reduction. The company's focus on highly-engineered, safety-critical auto components has allowed Compass to prosper as the auto industry stabilizes.

Hess makes the machines that make other machines. An important provider of equipment solutions to Fortune 100 manufacturers, Hess systems build and assemble wheels for cars and trucks, form and strengthen metal parts for home appliances, and automate the production of consumer goods. This investment excites us for a couple of reasons: Monomoy has deep experience in the capital equipment industry, and Hess has very few competitors. In the course of five years, we consolidated three Hess business units into a single company, reduced waste, and introduced professional management to a family-owned company. We also provided Hess access to some of the world's fastest growing markets: China and India. With a new engineering and assembly facility in India and a sales office in China, Hess is a major player in Asia and is enjoying its strongest financial performance and backlog of orders.

Anyone who has shopped in a supermarket or picked up a cold drink from a convenience store knows HTPG. The Heat Transfer Products Group makes refrigeration components and equipment used by food retailers and restaurants, sports arenas and warehouses, blood banks and pharmaceutical companies. With HTPG, we saw the opportunity to work with a 50-year-old, profitable segment leader with exceptionally strong identities among its four component brands: Russell, Witt, Kramer and ColdZone. Customers love their quality, and they are number one or number two in every core segment they serve. HTPG has the fastest lead times in the industry, and derives significant advantage from its global reach and longstanding customer relationships. Despite historical underinvestment by its much larger parent, the company has always been profitable. Monomoy contributed its expertise to refresh marketing and implement lean savings, and created a stronger support system that enables HTPG to continue doing what it has done so successfully for half a century.

Katun helps businesses save money on printing and copying expenses with low-cost replacement toner, printer cartridges and copier drums. As the pioneer of the aftermarket accessory space for printers and copiers, Katun maintains the dominant brand name and market share of off-brand accessories in the world. The company designs and engineers its products in the United States, sources them in Asia and sells them to over 18,000 customers in 150 countries. These — along with Katun's unique products and global reach — were the key reasons for Monomoy's acquisition. With our help, Katun has consolidated distribution centers and sales offices, improved product mix and introduced exciting new products.  In 2010, the company acquired Media Sciences, Inc. to expand its printer products.  The company has also introduced a web-based selling program and reduced inventory across its global network from Amsterdam to Argentina. So, if you want to save money on printer and copier costs, check out Katun's products at kolc.katun.com.

When Monomoy acquired Kurz-Kasch, it was a troubled and non-core division of a large public company-which obscured its enviable status as the worldwide leader in manufacturing electromagnetic components for heavy-duty diesel fuel systems. The company also makes high-grade thermoset plastic parts and can mold nearly any part required by any industry. Within a year of our acquisition, we added McLean Vehicle Systems and Macon Coil to grow the company's specialized, high-margin component business. We have consolidated ten Kurz-Kasch facilities into two locations in Ohio, substantially reducing operating costs and improving quality. Today, Kurz-Kasch is a critical supplier to original equipment manufacturers in a wide range of industries. It remains profitable despite the collapse of the basic vehicle market and well positioned to out-perform in an economic recovery.

Check out the flatware and dinnerware the next time you’re dining out with your family. Chances are that you’re eating with utensils and dishes provided by Oneida, Ltd., a Monomoy portfolio company, under the brand names Oneida, Sant’ Andrea, Rego or Delco. Oneida is the world's most recognized tabletop brand and a leading supplier of flatware and dinnerware to both the consumer and foodservice markets in the United States. Oneida designs, markets and distributes everything from flatware and dinnerware to bakeware and cutlery to kitchen tools and gadgets. Oneida maintains the largest installed base of products with global blue chip customers in the hotel, restaurant, hospitality and transportation industries. We acquired Oneida for the opportunity to revitalize an iconic American tabletop brand through cost reduction, further penetration of the U.S. foodservice and retail markets, and profitable growth in Europe, Asia and Latin America. Enjoy your meal.

If you’ve driven an American-made car or truck with an automatic transmission, you can be pretty sure that Steel Parts Manufacturing had something to do with it. Among a variety of transmission and steering components, Steel Parts primarily makes clutch plates, which are ring-like discs that come in packs and fit inside of a transmission to allow you to shift gears. Steel Parts is a profitable market leader known for its quality and reliability. The company supplies automotive OEMs, Tier I suppliers to car makers and heavy-duty transmission manufacturers (think buses, garbage trucks, fire trucks and cement mixers). Monomoy will partner with the Steel Parts team to drive greater efficiencies on the plant floor and invest capital to support organic growth opportunities and add-on acquisitions. Monomoy is excited to build a niche automotive stamping platform with Steel Parts as the foundation.