After acquisition, Monomoy has integrated Raybestos and Steel Parts Manufacturing as a global growing transmission component platform which the company formed in April last year.
Monomoy vice president Nate Bard said Raybestos acquisition is an important step in building a niche transmission component platform.
"Raybestos’ highly-engineered product offering and experienced management team fits perfectly within the Monomoy portfolio and will play a pivotal role in diversifying the platform and providing its customers with more value-added products," said Bard.
Under the integrated business entity, the Raybestos, Allomatic and Steel Parts brands will continue to carry their business.
Crowe Horwath provided accounting diligence to Monomoy, while Lazard Middle Market acted as financial advisor to Raybestos for the sale.
Running its businesses in four countries in North America and Asia, Monomoy Capital Partners owns $700m in assets under management that makes controlling investments in middle market businesses.
