M&A Deal Summary

Aebi Schmidt Holding AG Acquires Monroe Truck Equipment

On November 17, 2021, Aebi Schmidt Holding AG acquired automotive company Monroe Truck Equipment from Industrial Opportunity Partners and NMP Capital

Acquisition Highlights
  • This is Aebi Schmidt Holding AG’s 1st transaction in the Automotive sector.
  • This is Aebi Schmidt Holding AG’s 2nd transaction in the United States.
  • This is Aebi Schmidt Holding AG’s 2nd transaction in Wisconsin.

M&A Deal Summary
Date 2021-11-17
Target Monroe Truck Equipment
Sector Automotive
Buyer(s) Aebi Schmidt Holding AG
Sellers(s) Industrial Opportunity Partners
NMP Capital
Deal Type Add-on Acquisition
Advisor(s) D.A. Davidson & Co. (Financial)

Target

Monroe Truck Equipment

Monroe, Wisconsin, United States
Monroe Truck Equipment specializes in the design, manufacture, distribution, and installation/upfitting of specialized truck equipment for the municipal and commercial markets. Monroe Truck Equipment was founded in 1986 and is based in Monroe, Wisconsin.

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Buyer(S) 1

Buyer

Aebi Schmidt Holding AG

Frauenfeld, Switzerland
Category Company
Founded 2007
Sector Machinery
Employees2,000
DESCRIPTION

Aebi Schmidt Holding AG is a provider of product systems and services for the cleaning and maintenance of traffic areas and green spaces. Aebi Schmidt Holding AG was founded in 2007 and is based in Frauenfeld, Switzerland.

DEAL STATS #
Overall 2 of 2
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Wisconsin) 2 of 2
Country (United States) 2 of 2
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-03 M-B Companies

New Holstein, Wisconsin, United States

M-B Companies, Inc. is a manufacturer of snow removal and cleaning machines. MBC produces snow removal products for airports, pavement marking machines, multi-service vehicles and attachments, which it markets to private and public contractors. M-B Companies, Inc. was founded in 1907 and is based in New Holstein, Wisconsin.

Buy -

Seller(S) 2

SELLER

Industrial Opportunity Partners

Evanston, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Industrial Opportunity Partners is a private equity firm focused on acquiring and managing middle-market manufacturing and value-added distribution businesses. IOP looks to invest $15 to $100 million in companies with revenues between $50 and $500 million with an EBITDA of $5 to $50 million. Sectors of interest include building products, electronics, foundry, and casting products, precision machining, stamped and fabricated products, automotive components and steel/metal processing. IOP has a particular investment focus on enhancing the operations and optimizing the cost structures of businesses. Industrial Opportunity Partners was formed in 2005 and is based in Evanston, Illinois.

DEAL STATS #
Overall 19 of 22
Sector (Automotive) 6 of 6
Type (Add-on Acquisition) 11 of 14
State (Wisconsin) 3 of 5
Country (United States) 17 of 20
Year (2021) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-09 Union Corrugating

Fayetteville, North Carolina, United States

Union Corrugating is a manufacturer of metal roofing systems and roofing components for use in residential, commercial, and post-frame/agricultural applications. Union Corrugating was founded in 1946 and is based in Fayetteville, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-30 Aarrowcast

Shawano, Wisconsin, United States

Aarrowcast is a provider of ductile, gray, and austempered ductile iron castings that specializes in large, complex castings utilizing sophisticated metallurgy. The Company’s products are sold to global original equipment manufacturers in the agriculture, off-highway heavy truck, military, and construction industries. Aarrowcast was formed in 1978 and is based in Shawano, Wisconsin.

Sell -
SELLER

NMP Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NMP Capital is an independent investment firm focused on providing junior capital to a variety of lower middle-market companies in partnership with financial sponsors. NMP looks to commit $20 to $75 million in profitable companies with at least $10 million of EBITDA. NMP will consider opportunities in a wide range of industries including distribution, manufacturing, healthcare, and consumer. NMP Capital was formed in 2000 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 49 of 53
Sector (Automotive) 5 of 5
Type (Add-on Acquisition) 23 of 26
State (Wisconsin) 3 of 4
Country (United States) 47 of 51
Year (2021) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-10 Thibaut

Union, New Jersey, United States

Thibaut is an operator of wallpaper and fabric company. Thibaut is a designer and global distributor of branded wallpapers, fabrics, and furniture sold through the interior design channel. Thibaut goes to market through two highly regarded brands, Thibaut and Anna French. Thibaut was founded in 1886 and is based in Union, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-02 West Star Aviation

East Alton, Illinois, United States

West Star Aviation is a provider of maintenance, repair, and overhaul (“MRO”) and related support services to the business aviation industry. All aspects of aviation maintenance and total product rebuild from propjet to large jet products. West Star Aviation was founded in 1952 and is based in East Alton, Illinois.

Sell -
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