Monomoy Finalizes Sale of Astro Shapes, A Leading Manufacturer of Custom Aluminum Extrusions
January 28, 2025
Monomoy Finalizes Sale of Astro Shapes, A Leading Manufacturer of Custom Aluminum Extrusions
MONOMOY’S PARTNERSHIP WITH THE FAMILY-LED ALUMINUM EXTRUSION MANUFACTURER LED TO SUBSTANTIAL GROWTH
NEW YORK (Jan. 28, 2025) – Monomoy Capital Partners, a private investment firm focused on private equity and credit investing in the middle market, is pleased to announce its sale of Astro Shapes, LLC, a leading manufacturer of custom aluminum extrusions, to Wynnchurch Capital.
Headquartered in Struthers, Ohio, and founded by Bob Cene, Sr. in 1971, Astro Shapes is a family-operated manufacturer of aluminum extrusions. The company primarily serves the building products and recreational vehicle markets through three facilities across the Midwest and Northeast. For over 50 years, Astro Shapes has been known for its market-leading lead times, excellence in quality, customer service and value-added capabilities. Astro Shapes operates state-of-the-art, computerized extrusion presses capable of creating and manufacturing custom extrusions in over 14,000 unique, cutting-edge shapes and sizes in painted, thermal, anodized and other finishes.
Monomoy invested in the family-led business in 2020 and has since worked alongside second-generation business leader Paul Cene — who served as CEO during Monomoy’s ownership — and the Astro Shapes management team to substantially grow the company. Astro Shapes will continue to operate under its current management team led by Steve DeVoe, who was promoted to CEO.
“The success Astro Shapes has experienced during our partnership with Monomoy is not only due to tactical improvements but also the holistic value-creation approach we have executed together,” shared Astro Shapes’ Paul Cene, who transitioned to an advisory role on Astro Shapes’ Board of Directors. “In Monomoy, we established a team of thought partners who deeply understand family-led companies and helped equip us with the necessary resources to continue my father’s legacy. On behalf of my family, we are proud of the Astro Shapes team and grateful for Monomoy’s leadership, and we wish Steve and the entire company continued growth and success.”
Throughout Astro Shapes’ four-year partnership with Monomoy, the company grew despite challenging market conditions in the post-COVID era. Monomoy and Astro Shapes focused on strategically securing market share with new and existing customers while improving the company’s mix of value-added finished products. Monomoy enabled Astro Shapes’ strong performance through foundational investments, human capital efforts and implementation of operational resources, including integration of an in-house sales team and onboarding a new CRM system.
“Monomoy is honored to have partnered alongside Paul and a devoted management team to supercharge the growth of the Astro Shapes business,” said Monomoy Partner Jaime Forsyth. “We achieved success through our co-development of key operational initiatives that resulted in significant growth during a market downturn. We would like to congratulate Paul, Steve and the entire Astro Shapes team, who should be very proud of the legacy they have built, and wish the entire company continued success in this next chapter with Wynnchurch.”
KeyBanc Capital Markets Inc. and Houlihan Lokey Capital Inc. served as financial advisors and Ropes & Gray LLP served as legal counsel to Astro and Monomoy with respect to the transaction. Lincoln International LLC served as board advisor to Astro.