Monomoy Capital Partners Announces Exit of Shaw Development

By: Monomoy Capital Partners via Business Wire

October 31, 2023 at 06:00 AM EDT

Monomoy Capital Partners, a private investment firm focused on private equity and credit investing in the middle market, is pleased to announce the sale of Shaw Development to Madison Dearborn Partners. Shaw Development is a leading designer, manufacturer and assembler of sensors, fluid management systems and related components primarily for diesel exhaust fluid (DEF) applications. Monomoy’s investment in Shaw will be reflected as one of the firm’s most successful partnerships.

Monomoy played an integral role in helping to grow the family-owned business into a market leader in the DEF sector by focusing on operational improvements. In addition to playing a key role in expanding Shaw’s leadership team, Monomoy’s ownership enabled Shaw to expedite the integration of data and tech-based solutions, identification and execution of an aftermarket strategy and expansion of Shaw’s international footprint. The successful growth of Shaw reflects Monomoy’s nineteen years of experience investing in family-run, middle-market industrial businesses and partnering with companies to implement an operations-driven value-creation strategy.

“Monomoy’s collaborative approach, operational expertise and strategic understanding of our business led to an incredible partnership that has set us up for continued opportunities for innovation and excellence in the years to come,” said Shaw CEO Keith Luomala. “Our united commitment to improve the business created lasting value for Shaw and our future partners. We are undoubtedly well-positioned for further growth as we embark on this next chapter.”

Founded in 1944, Shaw provides superior customer value with innovative solutions and custom-engineered products for a sustainable future. Shaw meets rigorous environmental standards with its advanced sensor technology, filtering products and fluid management solutions for diesel and alternative fuel components. Shaw’s sensors and systems are mission-critical components of emission and fluid control systems and are provided to OEMs in a variety of industrial and transportation end markets.

“Monomoy is immensely proud of our partnership with Shaw, and we are honored to usher the team into this next phase of long-term growth under Madison Dearborn’s ownership,” shared Monomoy Investment Team Managing Director Mel Bartoul. “This sale is a testament to our in-house operating team, dedicated to rolling up their sleeves and working alongside family-owned businesses like Shaw. We look forward to partnering with future businesses as we aim to accelerate their growth and position them for long-term success."

Jefferies LLC served as exclusive financial advisor to Shaw Development and Monomoy with respect to the transaction; TD Cowen advised the Board of Directors of Shaw Development.

About Monomoy Capital Partners

Monomoy Capital Partners is a private investment firm with $3 billion in assets under management across a family of investment funds. Monomoy invests in the equity and debt of middle-market businesses that can benefit from operational and financial improvement with a focus on manufacturing and distribution businesses across industrial and consumer product sectors in North America and Europe. Please see our website at www.mcpfunds.com for further information concerning Monomoy and its portfolio companies.

About Shaw Development

Shaw Development is a leading designer, manufacturer and assembler of sensors, fluid management systems and related components primarily for DEF applications. Shaw’s DEF systems are mission-critical components of emission control systems in diesel engines. Shaw provides production and aftermarket components for OEMs in the construction, agricultural, heavy truck and other industrial/transportation end markets. The company also sells non-DEF products, including components for advanced diesel refueling systems. Headquartered in Bonita Springs, Florida, Shaw employs approximately 250 team members across three facilities.