New Managers to Help Oversee Monomoy Capital Partners Growing Restructuring Portfolio
NEW YORK - Monomoy Capital Partners, L.P., a private equity firm that makes turnaround investments in middle market companies, has hired two additional operating partners to help manage its growing portfolio of turnaround investments.
David Kreilein joins Monomoy after six years as a Vice President and portfolio manager at Sun Capital Partners, Inc., a $3.5 billion restructuring and buyout fund based in Boca Raton, Florida. At Sun Capital, Mr. Kreilein was responsible for managing over 20 portfolio companies ranging in size from $50 million to $3.5 billion in revenues in the retail, industrial, service and health care industries, including such companies such as Musicland, Mervyns, Powermate and Conagra Foods. Prior to joining Sun, he was the Chief Financial Officer of Olan Mills, Inc., the $250 million photography retailer.
John Stewart joins Monomoy after 18 years as an operating executive at Toyota Motor Corporation, the premiere global manufacturer of automotive vehicles. Mr. Stewart ran Vehicle Assembly Division of Toyota Motor Manufacturing U.K., Toyota’s largest European operation, and held a series of executive and operating positions at Toyota’s Georgetown, Kentucky operation. Mr. Stewart is an expert in the lean manufacturing philosophy known as the Toyota Production System or TPS. Over the course of his career, he has deployed TPS to improve quality, reduce waste and increase productivity in nearly every aspect of Toyota’s operations in the U.S. and the U.K.
Messrs. Kreilein and Stewart will join Richard Fish to form the Monomoy Capital operations team. Mr. Fish currently serves as the Interim Chief Executive Officer of Western Recreational Vehicles, Inc., a Monomoy portfolio company. Mr. Fish joined Monomoy in 2006 following a series of management positions at Universal Trailer Corporation, Workhorse Custom Chassis, Inc. and Fleetwood Enterprises, Inc. Together, they will be primarily responsible for implementing Monomoy restructuring programs and business improvement projects at Monomoy portfolio companies.
“We are excited and flattered that Dave and John have agreed to join the Monomoy team,” said Stephen Presser, a Monomoy principal. “Dave’s deep experience with restructuring and business improvement at Sun is a perfect fit for our growing portfolio. With John’s leadership, Monomoy will continue to implement TPS to improve quality and profits in both our automotive and non-automotive investments.”
Monomoy has completed eight acquisitions over the past 18 months and currently owns seven portfolio companies in industries ranging from food service to auto parts, including: Awrey Bakeries, LLC, Hess Industries, Inc., Barjan LLC, Castings Technologies Corp., Rossborough Supply Company, Western Recreational Vehicles, Inc. and Kurz-Kasch, Inc. In each acquisition, Monomoy works directly with management to improve operating results within 18 to 24 months.
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