Private investment firm Shipston Equity Holdings LLC has acquired auto parts maker Compass Automotive Group LLC from Monomoy Capital Partners. Financial terms were not disclosed.
Compass, based in Franklin, Indiana, manufactures aluminum chassis and suspension parts for the automotive sector. The buyer is changing the target’s name to Shipston Aluminum Technologies. Shipston Equity is a diversified investment firm. Compass will complement its portfolio company Busche Enterprise Division, a maker of metal gears and brackets.