New York-based Monomoy Capital Partners, a private equity fund, announced Monday that it has acquired the stock of Crawfordsville, Indiana-based Raybestos PowerTrain, LLC from an affiliate of Sun Capital Partners. Monomoy has combined Raybestos and its previously acquired Steel Parts Manufacturing, Inc. into a global automotive transmission component platform.
The combined business will continue to go to market under the Raybestos, Allomatic and Steel Parts brand names.
Raybestos combined with Steel Parts will create a leading supplier to automotive and heavy-duty vehicle customers in both the automotive aftermarket and the original equipment manufacturer (OEM) channels.