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Monomoy Capital carves out Trinity Industries’ highway product business in a $375m deal

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Mid-market investor Monomoy Capital Partners has agreed to acquire Trinity Highway Products in a $375m deal from Trinity Industries.

Founded in 1973, THP makes highway safety products including crash cushions, end terminals, guardrails and truck-mounted attenuators. It has 14 manufacturing and rental distribution facilities in the US and has sales offices in Europe, South America and Asia.

Mel Bartoul, director at Monomoy Capital, said, “Trinity Industries has done a terrific job growing THP into an industry leader. We are excited to partner with the THP team and continue to grow the business on a standalone basis. THP’s long-standing customer relationships, product innovation and scale should position the Company to benefit from long-term infrastructure spending.”

This is the second deal the firm has made from Monomoy Capital Partners IV. It was reported in February that the firm has pulled in $631m for the $1bn-targetting vehicle, but the firm has not announced a final close.

Monomoy hit a $767m final close for its third fund in 2016, beating its initial $650m target.

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