Monomoy Capital Partners, a private investment firm specialising in private equity and credit investments in the middle market, is excited to announce the sale of Astro Shapes, LLC, a top manufacturer of custom aluminium extrusions, to Wynnchurch Capital.
"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 established a team of thought partners who deeply understand family-led companies and helped equip us with the necessary resources to continue my father's legacy. On behalf of my family, we are proud of the Astro Shapes team and grateful for Monomoy's leadership, and we wish Steve and the entire company continued growth and success," said Astro Shapes' Paul Cene, who transitioned to an advisory role on Astro Shapes' Board of Directors.
A significant journey of growth
During Astro Shapes' four-year partnership with Monomoy, the company achieved significant growth despite the challenges of the post-COVID market. Monomoy and Astro Shapes focused on strategically expanding market share with both new and existing customers while enhancing the company's portfolio of value-added finished products.
Monomoy supported Astro Shapes' strong performance through key investments in infrastructure, human capital, and operational resources, including integrating an in-house sales team and implementing a new CRM system.
Astro Shapes- a family-owned manufacturer of aluminium extrusions
Astro Shapes, headquartered in Struthers, Ohio, was founded in 1971 by Bob Cene, Sr. As a family-owned manufacturer of aluminium extrusions, the company serves the building products and recreational vehicle industries through three facilities located in the Midwest and Northeast. Monomoy's collaboration with the family-owned aluminium extrusion manufacturer resulted in significant growth.
With over 50 years of industry experience, Astro Shapes has earned a reputation for its market-leading lead times, exceptional quality, customer service, and value-added capabilities. The company operates advanced, computerised extrusion presses that produce custom extrusions in more than 14,000 unique shapes and sizes, available in painted, thermal, anodised, and other finishes.
Monomoy Capital Partners invested in the family-owned business in 2020, collaborating closely with second-generation leader Paul Cene, who served as CEO during Monomoy's ownership and the Astro Shapes management team, to significantly expand the company. Moving forward, Astro Shapes will continue to be led by its current management team, with Steve DeVoe, who was promoted to CEO, at the helm.
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