STRUTHERS, Ohio – Astro Styles LLC, a longtime spouse and children-owned producer of tailor made aluminum extrusions, has sold its organization and operations to Monomoy Cash Associates, a non-public fairness fund, according to an announcement Monday.
“We are psyched to welcome Astro Designs to the Monomoy portfolio,” Monomoy Co-CEO Dan Collin mentioned in a statement. “Astro Designs is a small business we have admired and followed for many years. We look ahead to serving to the Astro Shapes staff establish the business in the yrs ahead.”
Terms of the transaction ended up not disclosed.
Astro Styles was founded in 1971 by Bob Cene, Sr. and is currently run by his son, Paul. The company now employs a lot more than 700 at 3 facilities.
“With the aid of Jim DiBacco and my brother, Bob Cene Jr., it is a privilege to have developed upon and direct the company my father commenced just about 50 yrs in the past, and I am assured that the organization will take pleasure in a dazzling future below Monomoy’s possession,” Paul Cene, president and CEO of Astro Styles, claimed in a assertion. “Monomoy’s aim on excellence and trustworthy relationships with shoppers and supply companions aligns correctly with the lifestyle at Astro Designs. We search forward to working intently with Monomoy to make on Astro Shapes’ legacy and comprehend considerable growth options for the enterprise.”
About the earlier 50 years, Astro Shapes has evolved into a really advanced procedure that employs computerized extrusion presses capable of building chopping-edge shapes from aluminum billets of six, seven and 8 inches in diameter. The enterprise generates value-included personalized extrusions in in excess of 14,000 exclusive styles and measurements in painted, thermal, anodized and other finishes for recreational cars, household home windows and doors, business home windows and doors, professional medical apps and cash equipment.
Amongst the legacies of the Cene family’s determination to the Mahoning Valley is the development of 3 baseball diamonds – named Bob Cene Park – on former metal mill land around the company’s operations at 65 Major St. The complicated is household to Youngstown Course B baseball League online games and has hosted the Nationwide Beginner Baseball Federation Globe Sequence.
“We congratulate Paul Cene and his workforce for constructing a leading, sector-main enterprise in aluminum extrusion,” claimed Jaime Forsyth, taking care of director at Monomoy. “Astro Designs is a verified, remarkably-regarded supplier to a numerous purchaser foundation, a accurate partner with its suppliers and perfectly-positioned for continued results in the long term. Monomoy is psyched to get the job done with the Astro Designs management staff and to collaborate with the Firm to travel extended-term benefit for its shoppers, suppliers and workers.”
Reps from Astro Shapes were not readily available for remark on Monday.
Monomoy Funds Partners is a non-public expenditure agency with $1.7 billion in committed money that invests in middle-industry firms in the production, industrial, distribution and purchaser goods sectors. The company invests in the equity or credit card debt of center-industry corporations that can profit from operational and economical enhancement. More than the previous 15 several years, Monomoy has shut about 50 center-industry acquisitions in the production, distribution and client product or service sectors, according to the enterprise.
Released by The Organization Journal, Youngstown, Ohio.