May 31, 2011
Ellipse Capital Announces Majority Equity Investment in Monroe Engineering, LLC

Ellipse Capital, a private investment firm focused on the distribution sector, announced that it has completed a majority equity investment in Monroe Engineering, LLC.  Terms of the transaction were not disclosed.

Monroe Engineering (www.monroeengineering.com) is a leading value-added distributor of niche industrial hardware products, including hinges, pull handles, knobs, hand wheels, clamps, plungers and related assemblies.  Headquartered in Auburn Hills, Michigan, Monroe supplies more than 20,000 products to customers in the military, transportation, industrial aftermarket, machinery fabrication and packaging equipment markets.

Garrett Morelock, President of Monroe, said, “Monroe is well-positioned for continued growth through new product introductions and complementary acquisitions.  We are excited about working closely with the team at Ellipse Capital to achieve these goals.  Their extensive experience with distribution businesses makes Ellipse an ideal partner for our next phase of growth.”

Peter Gotsch, Managing Partner of Ellipse Capital, said, “Monroe is poised to pursue strategic acquisitions and internal growth in the industrial hardware market.  The Company’s seasoned management team, superior sales and marketing team and solid financial performance position Monroe as a strong platform for growth.  We look forward to working with the management team at Monroe to pursue these growth initiatives.”

Ellipse Capital is a private investment firm focused exclusively on value-added distribution businesses across a broad range of end markets.  Ellipse sources and invests in growth oriented, lower middle market distribution businesses with enterprise values between $10-$75 million.