Akoya Capital, LLC (“Akoya”), a Chicago-based private investment firm, along with Landon Capital Partners and Ironwood Capital announced today the sale of Momentum Manufacturing Group (“MMG” or the “Company”), to One Equity Partners, a New York-based private equity firm focused on investments across industrials and related sectors.
Momentum Manufacturing Group, headquartered in Georgetown, MA, is a leading engineered products manufacturer, providing a wide variety of finished, specialty products and sub-systems with metal components for diverse applications as a key strategic partner to customers. The Company operates nine state-of-the-art facilities with 24/7 lights-out operations in Vermont, New Hampshire, and Massachusetts, totaling over 650,000 sq. ft. of manufacturing space.
Max DeZara, Managing Partner and Founder of Akoya, said, “The MMG Management Team, supported by Mark Breckheimer, Akoya Managing Director and Executive Chairman of the Company’s Board, did an outstanding job in growing this platform, and we could not be more excited for MMG’s next chapter.”
With access to Akoya’s operational resources and support, the team built MMG into the largest integrated manufacturing solutions provider in New England and among the top 10 largest in North America. Since the initial acquisition in 2017, Akoya and its partners Landon Capital Partners and Ironwood Capital, made significant investments in the Company including over $25 million of capital expenditures to support aggressive growth and create automation-enabled production infrastructure. MMG also executed three highly accretive add-on acquisitions, with each providing key capabilities to enhance the Company’s service offering. “We look forward to seeing MMG continue to thrive under its new ownership. The MMG acquisition and subsequent exit is consistent with our investment strategy of combining world-class executives, well-positioned companies, and fully developed value creation strategies to create significant value for management and investors,” Max added.
Mark Breckheimer said, “On behalf of the MMG team, I’d like to thank the entire team at Akoya for their support of our management team and their belief in the strategic plan we created for MMG. Looking ahead, the MMG team sees significant opportunity to continue expanding the business and is excited to partner with One Equity Partners for the next phase of growth.”
Jim Moroney will continue in his role of President and CEO.
Houlihan Lokey served as financial advisor on the transaction.
About Akoya Capital, LLC
Akoya is a sector focused investment firm that creates and nurtures partnerships between management and capital. With industry leading sector leaders, proprietary platform organizations, experienced management teams, and co-investors, we collaborate on compelling value creation opportunities. Together, we develop and execute industry sector acquisition strategies that deliver significant, measurable value for management, partners, and shareholders. (http://www.akoyacapital.com)
About Momentum Manufacturing Group
Founded in 1982 in St. Johnsbury, VT as a metal fabricator with basic fabrication equipment and capabilities, Momentum Manufacturing Group is a leading domestic engineered products manufacturer, providing a wide variety of finished, specialty products and sub-systems with metal components for diverse applications as a key strategic partner to customers. (https://www.mmg1982.com)