New York private equity firm Monomoy Capital Partners has acquired MPI LLC’s assets for an undisclosed amount.
MPI, headquartered in Southfield, Mich., manufactures high-precision metal components for powertrain systems, hydraulic systems and other automotive and industrial applications.
Monomoy made the purchase through its second fund, Monomoy Capital Partners II LP.
The firm has more than $700 million in capital under management and focuses on investing in the manufacturing, distribution, consumer product and food service industries.
Baker & McKenzie LLP were legal counsel to Monomoy, while Ernst & Young LLP provided financial advice. Wells Fargo provided financing for the deal.