Monomoy Capital Partners, a private investment firm focused on private equity and credit investing in the middle market, has sold Astro Shapes, a leading manufacturer of custom aluminium extrusions, to private equity firm Wynnchurch Capital.
Headquartered in Struthers, Ohio, and founded by Bob Cene, Sr, in 1971, Astro Shapes is a family-operated business serving the building products and recreational vehicle markets through three facilities across the Midwest and Northeast USA.
Monomoy first invested in Astro Shapes 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 grow the company. Following the sale, Astro Shapes will continue to operate under its current management team led by Steve DeVoe, who was promoted to CEO.
KeyBanc Capital Markets and Houlihan Lokey Capital served as financial advisors and Ropes & Gray served as legal counsel to Astro and Monomoy with respect to the transaction. Lincoln International served as board advisor to Astro.
