Tonka Bay Equity Partners, a Minnetonka, Minn.-based private equity firm, has purchased Standard Locknut, a division of Industrial Group Holdings LLC, from Dunes Point Capital LP.

SLN is a machinery parts manufacturer of bearing parts for critical function applications in industrial markets. The company is based in Westfield, Ind., operating out of a 125,000-square-foot warehouse where the company manufactures bearing mounting products for industrial use.

Hennepin Partners served as M&A advisor, Kirkland & Ellis LLP served as legal advisor, and Alvarez & Marsal served as financial advisor.