Global Fastener News

2016 FIN – Italy’s Agrati Acquires Continental-Midland

December 03
14:39 2018

2016 FIN – Italy’s A. Agrati S.p.A. acquired ContMid Holdings, Inc. from equity firm Monomoy Capital Partners for an undisclosed amount.

Park Forest, IL-based CMG is a $240 million manufacturer of custom-engineered metal fasteners, cold formed parts and stampings for car makers, automotive suppliers, and industrial manufacturers. CMG markets its products, which include safety-critical seat belt fasteners, automobile door strikers and wheel nuts, under the trade names Continental/Midland, Jacobson, Tiffin, MSD Stamping and Minuteman Distribution.

CMG also provides Taptite and Torx products and wheel nuts throughout North America.

Led by CEO Phil Johnson, CMG operates six facilities in Illinois, Indiana, Ohio and Michigan and employs 650 workers. Web: contmid.com

“Monomoy was an invaluable partner throughout the transformation of CMG over the past two years,” Johnson stated. “They helped the CMG management team create a dynamic value creation plan for the business and provided CMG with the resources, tools and strategic guidance we needed to execute the plan and emerge as a market leader in every respect.”

Monomoy acquired CMG in July of 2014 from the Kaminski family, which had owned and operated the company for the previous 10 years.

While the price was not disclosed, Monomoy suggested Agrati paid a substantial sum for CMG.

“The CMG sale is expected to produce up to a 4x return on investment for Monomoy and its investors,” Monomoy stated in a press release.

Agrati is a privately owned company founded in 1939 and headquartered in Veduggio con Colzano, Italy. Agrati is a multi-national manufacturer of fasteners and assembly components for the automotive and general industrial markets.

In 2010, Agrati SpA purchased five fastener facilities in France: four automotive fastener manufacturing plants and a distribution center from Acument Global Technologies Inc. The acquired operations manufacture screws, bolts, washers and specialty stamped parts for the European automotive market and generated net sales of €97 million (US$121 million) in 2009. Web: agrati.com  ©2016 Fastener Industry News.
For information on permission to reuse or reprint this article please e-mail: FIN@GlobalFastenerNews.com

For more Continental/Midland articles, click on the Fastener History section of GlobalFastenerNews.com:

2014 FIN – Continental/Midland Acquired by NY Equity Fund
Monomoy VP McKenzie: “Under the leadership of the Kaminski family, the company has built a leading automotive and industrial supplier with an impressive customer list.”

2005 FIN – Number and Size of Fastener Acquisitions Increase in 2004
Hagan: Low interest rates,easing of credit and improved economy create excellent conditions for buyers.

2004 FIN – Kaminski: Ready to Find New Success
Continental/Midland sold and bought back.

1991 FIN – Continental/Midland and Nitto Seiko Enter Agreement to Supply North American Customers
Long-term goal is a joint venture manufacturing plant in Ohio.

 

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