NEW YORK--(EON: Enhanced Online News)--Monomoy Capital Partners, a New York private equity fund focused on value investing and business improvement, announced today that it has acquired Escort, Inc. (“Escort” or “the Company”) from a consortium of investors led by Falconhead Capital. Monomoy acquired Escort through its second fund, Monomoy Capital Partners II, L.P. Terms of the transaction were not disclosed.
“Escort’s dominant brand and strong management team create an exciting platform for growth and profitability”
Escort offers a premium line of automotive accessories and is the market leader in the design, manufacture and distribution of radar detectors and mobile data used for ticket protection. Escort’s products are marketed under two highly-recognized brands, ESCORT™ and BELTRONICS™. Through these premium brands, the Company maintains the leading market position in the sale of ticket protection equipment in the United States and a strong and growing presence in international markets such as China and Russia.
“Escort’s dominant brand and strong management team create an exciting platform for growth and profitability,” said Monomoy Partner Justin Hillenbrand. “We are excited to add Escort to the Monomoy portfolio of companies.”
Headquartered in West Chester, Ohio with manufacturing operations in Mississauga, Ontario, Escort is the world’s leading designer, manufacturer and distributor of ticket protection equipment, supplying enthusiast consumers with solutions that enhance awareness and reduce risk during travel. The Company markets its products to consumers through its website (escortradar.com), its call center, brick-and-mortar retailers such as Best Buy and online retailers such as Amazon. The Company employs over 200 team members across its manufacturing facility and its corporate headquarters.
“This transaction represents an exciting next step for Escort, as a premier provider of automotive accessories and the leading provider of ticket protection equipment across the world,” said John Larson, Chief Executive Officer of Escort. “Monomoy’s strong operational expertise and focus on organic growth will provide Escort with the necessary resources and capital to expand our product offering abroad and deepen our existing relationships at home. We look forward to the opportunities ahead.”
Kevin Morris from Kirkland & Ellis, LLP provided Monomoy with legal counsel for the acquisition, Ernst and Young LLP performed financial and accounting diligence. Garry Jaunal of Baker & McKenzie LLP provided legal counsel for the acquisition financing, which was funded by Monroe Capital.
About Monomoy Capital Partners
Monomoy Capital Partners is a private equity firm with $700 million in committed capital that makes control equity investments in middle market businesses in the manufacturing, distribution, consumer product and food service industries. Over the past five years, Monomoy has closed over 30 middle market acquisitions, and its companies currently produce over $1.1 billion in combined sales and employ more than 4,500 people across four continents, from North America to Asia. Monomoy implements customized business improvement programs in all portfolio companies that reduce operating expenses, increase profitability and encourage profitable growth.
Please visit www.mcpfunds.com for a detailed review of Monomoy and its portfolio.