Transaction adds to Mirus’ track record of success in the specialty materials sector
Mirus Capital Advisors, one of New England’s largest independent middle-market investment banks, has advised Monadnock Non-Wovens LLC (“MNW”), a manufacturer of high-performance nonwovens and composite materials, on its sale to Precision Products Group (“PPG”), an Auxo Investment Partners portfolio company. The Mirus deal team was led by Greg Fanikos (Partner) and Alan Fullerton (Chairman & CEO). The terms of the transaction were not disclosed. Mirus Capital Advisors was the exclusive financial advisor to MNW on this transaction.
Based in Mount Pocono, PA, and owned by the Verney family, MNW manufactures proprietary meltblown nonwoven rolled goods and composite products incorporating engineered materials sourced from third parties. MNW’s products are used in automotive acoustic insulation, air filtration, and bespoke liquid filtration applications. Its innovative and proprietary high-performance acoustic media (HPAM®) line has been certified by leading global automotive manufacturers to reduce cabin noise levels. The company also provides air and liquid filtration solutions engineered to meet exacting requirements specified by its customers. MNW will continue to operate under its brand as part of PPG’s platform, and President James Cree will continue to lead the business.
“We are pleased to have found a compelling strategic partner for MNW,” said Greg Fanikos, Partner with Mirus Capital Advisors. “We were engaged by the late Richard Verney based on our experience in the nonwovens industry and are delighted that we could complete this transaction for the benefit of the surviving family members. We’re confident that PPG will continue to support the culture of innovation and customer service that Richard helped to create at Monadnock Non-Wovens,” he concluded.
“Highly engineered specialty materials are an area of focus for Mirus,” said Alan Fullerton, Chairman and CEO of the firm. “Our senior team has extensive experience in the space, and we’re thrilled to add another long-standing, family-owned manufacturer to our growing list of successful transactions in the industrial sector.”
Andrew Manns, the CEO of MNW’s corporate parent, Pierce Hill Holdings LLC, noted, “Our objective in selling MNW was to find the right partner to support the long-term growth of the business and to achieve a strong outcome for the Verney family. Despite some challenging market conditions, Mirus helped us achieve both outcomes and was a terrific partner for us through the sale process.”
Transaction Leaders
About Auxo Investment Partners
Auxo Investment Partners is a Grand Rapids, Michigan-based private investment firm that partners with owners and management teams of companies at transition points in their history. Auxo’s flexible capital model allows for long-term, growth-oriented decision-making without artificial deadlines. The structure was specifically designed for family businesses facing a generational transition or management teams seeking a partner to fuel growth and achieve their full potential with a long-term investment approach. For more information, please visit www.auxopartners.com.
About Precision Products Group
Precision Products Group is a manufacturer of highly engineered materials for the electrical, medical, aerospace & defense, filtration, and industrial markets. Its portfolio of products includes spiral and convolute-wound paper products, spiral-wound and extruded plastic tubing, braided and other woven products, crepe paper, and meltblown nonwovens, among others. PPG’s products are sold under various brands, including Paramount Tube, Breyden Products, Saylor Products, Euclid Medical Products, Cindus Corporation, and now Monadnock Non-Wovens. For more information visit www.ppgintl.com.
About Mirus Capital Advisors
Mirus Capital Advisors is a premier independent middle-market investment bank delivering sophisticated transaction advice with precision execution and proven results. With close to 40 years of experience and 450+ completed transactions, Mirus provides M&A advisory, capital raising, and fairness opinion and valuation services to corporations, private equity firms, public companies, and boards of directors across the technology, industrial, business services, healthcare and life sciences, and consumer sectors. The firm’s experienced team leverages deep industry expertise, established relationships, and global reach through its international network to broaden possibilities and deliver premium outcomes for clients. Mirus has earned national recognition for excellence in the middle market, including multiple Deal of the Year honors. For more, visit www.merger.com.
About Mirus