Kurz-Kasch Acquires Macon Electric Coil, Inc.
DAYTON, Ohio - January 31, 2008 - Kurz-Kasch, Inc., a worldwide leader in the design and manufacture of electromagnetic products, solenoids and composite components, announced today that it has acquired Macon Electric Coil, Inc. ("Macon"), a leading manufacturer of custom electric coils and solenoids for the irrigation and consumer appliance industries. Macon founder Bill Macon will join Kurz-Kasch to grow the company's coil and related businesses. Terms of the transaction were not disclosed.
Kurz-Kasch is a portfolio company of Monomoy Capital Partners, L.P., a New York private equity fund that makes controlling investments in fundamentally sound businesses at the smaller end of the middle market.
Macon is a leading manufacturer of custom electric coils, sensors and solenoids with manufacturing facilities in Georgia, Florida and China. Macon provides its customers with quality low cost components produced in China and a domestic manufacturing base for complex engineering and short lead time components. "Macon's coil and solenoid businesses are valuable additions to our growing company and will support our strong core product portfolio," said George Kochanowski, chief executive officer of Kurz-Kasch. "As we continue to consolidate the coil industry and increase market share, Macon's expanded manufacturing footprint and Bill's industry expertise provides Kurz-Kasch with another great opportunity to improve and grow our business."
"Kurz-Kasch and Macon share the same commitment to operational excellence and respect for its customers, and I am excited to be a part of the incredible opportunities for growth created by combining these companies," said Macon. "With the financial and strategic backing of the Monomoy team, Kurz-Kasch is well positioned to capitalize on this acquisition and build a robust, industry-leading platform in the electromagnetic and coil winding sector."
PNC Business Credit provided financial support for the acquisition. Leech Tishman Fuscaldo & Lampl, LLC of Pittsburgh, Pennsylvania represented Kurz-Kasch in the transaction; Aubridge Partners, LLC and Ameridan, LLC provided business and market support.
About Kurz-Kasch, Inc.
Kurz-Kasch, Inc. is a worldwide leader in designing and manufacturing electromagnetic components for heavy-duty diesel engines and engineered composite components for the aerospace, consumer products, electrical distribution and automotive industries. The company operates six manufacturing and research facilities in Ohio, Indiana, Virginia, Brazil and Shanghai, China. Monomoy Capital Partners, L.P. acquired Kurz-Kasch from the Dover Corporation in February 2007.
About Monomoy Capital Partners, L.P.
Monomoy Capital Partners, L.P. is a $280 million private equity fund that makes controlling investments in middle market companies that face corporate change. Monomoy targets fundamentally sound businesses at the smaller end of the middle market and acquires businesses through corporate divestitures, bankruptcy proceedings, out-of-court restructurings and other complex transactions. The Fund has completed 14 transactions over the past 28 months in the smaller end of the middle market and currently owns 8 business that collectively employ more than 6,000 people. For additional information on Monomoy and its portfolio companies, please visit www.mcpfunds.com.