MCM Capital Sells OMCO Corporation
MCM Capital Partners., L.P. Sells OMCO Corporation
June 19, 2003
Cleveland, Ohio – On June 19, 2003, MCM Capital Partners, L.P., (“MCM”) a private equity firm based in Cleveland, Ohio, sold The Ohio Moulding Corporation (“OMCO”), headquartered in Wickliffe, Ohio, to an undisclosed buyer. The transaction was completed in November 2000 in the form of a recapitalization with the management team. Steven Ross, Director & Principal of MCM, stated that “the company has performed exceptionally well in light of the downturn in the truck trailer market and a dramatic increase in steel prices over the past two years”. Furthermore, Mr. Ross added “that MCM’s decision to sell the portfolio company came on the heels of an unsolicited offer that provided MCM with the unexpected opportunity to realize an attractive return on its investment”.
OMCO is one of North America’s leading manufacturers of roll-formed structural carbon and stainless steel products with a core competency of selling into the transportation field producing a variety of roll-formed components for trucks, trailers and truck bodies.