Merit Capital Partners is pleased to announce the successful exit of its Fund V investment in Monarch Industries Limited (“Monarch” or the “Company”). Monarch was sold in September 2022 to TriWest Capital Partners.
Merit made its investment in Monarch in July 2012, in partnership with several of the Company’s key executives. Monarch is a vertically integrated manufacturer of hydraulic cylinders and custom iron castings. Founded in 1935 and headquartered in Winnipeg, Manitoba, Monarch serves the mobile agricultural, construction, and industrial end markets. The Company’s products primarily are sold in North America to off‐road original equipment manufacturers. During Merit’s ownership, Monarch significantly diversified its end markets, strengthened and grew its customer base, and expanded its capacity and world class capabilities in both North America and Asia.
Merit invested both subordinated debt and equity to support its buyout of Monarch. Roy Cook, Monarch’s recently retired CEO, commented “Merit was an exceptional partner over the last 10+ years. They actively supported the business through periods of both challenge and success. Merit’s enduring strategic guidance and partnership were critical to driving an excellent outcome for all involved.”
Merit and Monarch were advised on the transaction by Lincoln International LLC and Reinhart Boerner Van Deuren s.c. Please contact Dan Pansing or Ben Yarbrough for additional information.