Private investment firm Monomoy Capital Partners announced Jan. 4 its acquisition of Astro Shapes, an aluminum extrusions manufacturer in the Midwest and Northeast U.S.
Astro Shapes is a family-owned business founded in 1971 by Bob Cene and is led by his son, CEO Paul Cene. The company creates extrusions in 14,000 shapes and sizes for RVs, residential windows and doors, medical applications and capital equipment.
“We congratulate Paul Cene and his team for building a premier, market-leading business in aluminum extrusion,” Monomoy Managing Director Jaime Forsyth stated. “Astro Shapes is a proven, highly regarded supplier to a diverse customer base, a true partner with its suppliers and well positioned for continued success in the future. Monomoy is excited to work with the Astro Shapes management team and to collaborate with the company to drive long-term value for its customers, suppliers and employees.”
Monomoy is an investment firm with $1.7 million in private capital that invests in middle market businesses’ debt and equity. The company’s transaction terms with Astro Shapes were not disclosed.
“We are excited to welcome Astro Shapes to the Monomoy portfolio,” Monomoy co-CEO Dan Collin stated. “Astro Shapes is a business we have admired and followed for years. We look forward to helping the Astro Shapes team build the business in the years ahead.”
Headquartered in Struthers, Ohio, Astro Shapes operates three manufacturing facilities with more than 700 employees. The company maintains significant market share in the Midwest and Northeast and has operated computerized extrusion presses capable of creating cutting-edge shapes from aluminum billets for the past 50 years.
“With the help of Jim DiBacco and my brother, Bob Cene Jr., it is a privilege to have built upon and lead the business my father started almost 50 years ago, and I am confident that the company will enjoy a bright future under Monomoy’s ownership,” Paul Cene stated. “Monomoy’s focus on excellence and trusted relationships with customers and supply partners aligns perfectly with the culture at Astro Shapes. We look forward to working closely with Monomoy to build on Astro Shapes’ legacy and realize significant growth opportunities for the business.”
