RV industry supplier Astro Shapes has been sold. The company was bought by one private-equity firm from its previous private-equity owner.
Founded in 1971 by Bob Cene, Astro Shapes makes custom computerized aluminum extrusions presses. The company serves the RV market through three facilities across the Midwest and Northeast.
Astro Shapes was bought by private-equity group Monomoy Capital Partners in 2020. Monomoy sold the company to Wynnchurch Capital this week.
Astro Shapes grew during Monomoy’s four-year ownership despite challenging market conditions. Both companies focused on securing and building market share with new and existing customers.
Former Astro Shapes CEO Paul Cene said, “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.”
Cene has transitioned to an advisory role on Astro Shapes’ board of directors. Astro Shapes will continue to operate under its current management team led by newly promoted CEO Steve DeVoe.
Greg Gleason, Managing Partner at Wynnchurch, said, “Astro Shapes has an industry leading value proposition with its unique services and technological capabilities. We are excited to partner with Steve and his team to continue their track record of delivering superior products and services to their customers and build upon Astro Shapes’ position as a leading manufacturer of specialty aluminum products.”
Carl Howe, Managing Director at Wynnchurch, said Astro Shapes has significant runway to grow and continue providing exceptional value to its customers.
Monomoy Capital improved Astro Shapes’ mix of value-added finished products during its ownership.
Monomoy Partner Jaime Forsyth said, “Monomoy is honored to have partnered alongside Paul and a devoted management team to supercharge the growth of the Astro Shapes business. 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.”
Located in New York, Monomoy Capital Partners is focused on private equity and credit investment in the middle market. Wynnchurch Capital is based in Rosemont, Illinois.
For more information about Monomoy, visit www.mcpfunds.com. To learn more about Astro Shapes, visit www.astroshapes.com. For interests in Wynnchurch Capital, visit www.wynnchurch.com.
