Monomoy Capital Partners, a private investment firm with $1.6 billion in committed capital in a family of investment funds, completed the acquisition of Sportech, Inc., a Elk River, Minnesota-based supplier of cab components for utility task vehicles.
Monomoy acquired Sportech through, Monomoy Capital Partners III, L.P. Cerberus Business Finance provided acquisition financing for the transaction.
The terms of the transaction were not disclosed.
Founded by Chris Carlson in 1994, Sportech designs, manufactures and assembles cab components and systems for the powersports, golf and turf, industrial, and agricultural end markets. Its design and engineering capabilities allow the company to provide complex components and assemblies to the largest original equipment manufacturers of UTVs in North America.
The business operates three facilities in Minnesota and employs approximately 325 team members.
Upon closing of the transaction, Jim Glomstad, the company’s current Chief Operating Officer, will assume the role of Chief Executive Officer of Sportech.