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Monroe Truck Equipment

Monroe’s owners were seeking liquidity and a partner to help them through some operational challenges.

Monroe is a powerful example of IOP’s operational focus and specialized sector knowledge shifting a successful middle-market industrial company into the next gear.

Monroe is a Wisconsin-based company that designs, manufactures, distributes and installs specialized truck equipment used in municipal and commercial applications. They are a leader in snow- and ice-related equipment including truck bodies, snow plows and hitches, and de-icing equipment.

Monroe’s owners were seeking partial liquidity and a partner to help them through some operational challenges, causing long lead times and lost sales opportunities.

They ultimately chose IOP based on our operational focus and experience with specialty vehicle markets. We viewed Monroe as having a reputation for quality and smart design, with strong potential for more efficient operations that would support accelerated growth.

  • IOP works with Monroe Truck Equipment
  • IOP works with Monroe Truck Equipment
  • IOP works with Monroe Truck Equipment
  • IOP works with Monroe Truck Equipment
  • IOP works with Monroe Truck Equipment
  • IOP works with Monroe Truck Equipment
  • IOP works with Monroe Truck Equipment

THE DEAL + OPERATING THESES

Together, we structured a deal where Monroe’s three owners retained a meaningful stake in their company and remained in their management roles. IOP Operating Principal Andy Weller, who had significant experience with the commercial vehicle market and retooling similar manufacturing processes, joined as Chairman.

We collaborated to develop several operating theses aimed at increasing production capacity through improved usage of automation and new investments, making better use of engineering and management talent, expanding sales with thoughtful new products and exploring strategic add-ons.

THE PARTNERSHIP + RESULTS

Monroe’s management and IOP have implemented several key strategic and operational initiatives :

The company continues to evolve. In 2017, Monroe acquired Towmaster, strengthening Monroe’s footprint in the Midwest. The acquisition increased their scale in the snow and ice market, and added a complementary commercial trailer product serving customers in construction, landscaping and agricultural markets.

Sep 27, 2016|
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