Monomoy Capital Triumphs with Astro Shapes Sale to Wynnchurch
Monomoy Capital Partners, a distinguished private investment firm specializing in private equity and credit investing in the middle market, is pleased to announce the successful sale of Astro Shapes, LLC to Wynnchurch Capital. This marks a significant transition for Astro Shapes, a premier manufacturer of custom aluminum extrusions.
A Legacy of Excellence and Growth
Founded in 1971 by Bob Cene, Sr., Astro Shapes has remained a family-operated business headquartered in Struthers, Ohio. With over five decades of expertise, Astro Shapes has become an industry leader, providing high-quality aluminum extrusions primarily for the building products and recreational vehicle markets. Operating across three state-of-the-art facilities in the Midwest and Northeast, the company is renowned for its market-leading lead times, superior quality, exceptional customer service, and diverse value-added capabilities.
Astro Shapes’ advanced manufacturing capabilities include highly sophisticated, computerized extrusion presses capable of producing over 14,000 distinct custom profiles. These extrusions come in various finishes, including painted, thermal, anodized, and other specialized coatings. This extensive product range enables the company to serve a diverse clientele, ranging from residential and commercial window and door manufacturers to recreational vehicle producers and medical equipment providers.
Monomoy’s Transformational Investment
Monomoy Capital Partners acquired Astro Shapes in 2020, partnering with second-generation business leader Paul Cene, who served as CEO during Monomoy’s ownership. Under Monomoy’s stewardship, Astro Shapes underwent significant strategic and operational improvements. The firm played a crucial role in scaling Astro Shapes’ operations, optimizing its market presence, and reinforcing its competitive advantage through thoughtful capital investment and leadership development.
Throughout the four-year partnership, Astro Shapes thrived despite economic fluctuations and industry challenges, including the post-pandemic supply chain disruptions and market volatility. By implementing a robust operational strategy, Monomoy and Astro Shapes enhanced production efficiencies, secured market share with both new and existing customers, and expanded the company’s portfolio of value-added finished products.
One of the key initiatives Monomoy spearheaded was the integration of a dedicated in-house sales team and the adoption of a cutting-edge Customer Relationship Management (CRM) system. These investments in human capital and technology enabled Astro Shapes to optimize customer engagement, streamline operations, and achieve sustainable growth.
Leadership Transition and Future Growth
With the sale to Wynnchurch Capital, Astro Shapes will continue to operate under its existing management team. Steve DeVoe, who played an instrumental role in the company’s expansion, has been promoted to CEO. Paul Cene has transitioned into an advisory role on Astro Shapes’ Board of Directors, ensuring continuity in the company’s leadership and strategic direction.
Reflecting on the company’s journey, Paul Cene shared, “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. In Monomoy, we found a team of thought partners who deeply understand family-led companies and equipped us with the resources necessary to continue my father’s legacy. My family and I are incredibly proud of the Astro Shapes team and grateful for Monomoy’s leadership. We are excited for the next chapter and wish Steve and the company continued success.”
Monomoy’s Perspective on the Sale
Jaime Forsyth, Partner at Monomoy Capital Partners, highlighted the firm’s commitment to value creation, stating, “Monomoy is honored to have partnered alongside Paul and a dedicated management team to supercharge Astro Shapes’ growth. Despite market downturns, we successfully co-developed key operational initiatives that propelled the business forward. We congratulate Paul, Steve, and the entire Astro Shapes team on their achievements and look forward to seeing them flourish under Wynnchurch’s ownership.”
Strategic Advisory and Transactional Details
The sale was facilitated with financial advisory support from KeyBanc Capital Markets Inc. and Houlihan Lokey Capital Inc., while Ropes & Gray LLP provided legal counsel to Astro Shapes and Monomoy. Additionally, Lincoln International LLC served as a board advisor to Astro Shapes, ensuring a smooth transition process.
About Monomoy Capital Partners
Monomoy Capital Partners is a private investment firm managing over $5 billion in assets across a family of investment funds. The firm specializes in investing in middle-market businesses that can benefit from operational and financial enhancements. Monomoy’s portfolio spans manufacturing, distribution, and service-oriented companies across various industrial and consumer product sectors in North America. For more information, visit www.mcpfunds.com.
About Astro Shapes
Astro Shapes is a premier independent manufacturer of aluminum extrusion profiles, serving a broad spectrum of industries, including the residential and commercial construction, recreational vehicle, and medical equipment sectors. With its headquarters in Struthers, Ohio, Astro Shapes delivers high-quality, custom-finished aluminum extrusions in over 14,000 unique shapes and sizes, available in multiple tempers and finishes. To learn more about Astro Shapes, visit www.astroshapes.com.
Looking Ahead
With the transition to Wynnchurch Capital, Astro Shapes is poised for its next phase of growth and innovation. Leveraging the strong foundation established under Monomoy’s ownership, the company will continue to expand its capabilities, enhance its product offerings, and solidify its leadership position in the aluminum extrusion industry. The future remains bright for Astro Shapes, its employees, and its customers, as it embarks on this new and promising journey.
