MPE Partners Announces an Investment in Garmat USA, LLC

CLEVELAND and BOSTON, June 27, 2019 /PRNewswire/ -- MPE Partners ("MPE" or "Morgenthaler Private Equity") announced today an investment in Garmat USA, LLC ("Garmat USA" or "the Company"). Located in Englewood, CO, Garmat USA is a market leading designer and manufacturer of highly engineered paint booths, finishing solutions, and related accessories for the automotive collision repair and industrial end markets.

Founded in 1988, Garmat USA incorporates sophisticated airflow technology into its premium paint booths to deliver high throughput rates and energy efficiency, maximizing facility-level economics to achieve an attractive total cost of ownership for high volume collision repair operators. Garmat USA serves multi-site operator and independent repair shop customers through a nationwide network of distributor partners.

MPE partnered in the transaction with entrepreneur and CEO, Johan Huwaert. Graham Schena, Partner at MPE, said, "We are excited to partner with Johan and his team to help them achieve their next phase of growth." Mike Duffy, Vice President at MPE, said, "Garmat USA has developed a market leading brand in the collision repair sector and industrial applications."

Johan Huwaert added, "MPE's operating executive resources and their long track record of partnering with entrepreneur-led businesses make them a great partner for Garmat USA. It is an exciting time in the collision repair industry, and we thought it was the right time to bring in a partner with the resources and experience to help us enhance our position as the innovation leader in our industry."

About Garmat USA

Founded in 1988, with manufacturing facilities located in Englewood, CO, Garmat USA is a market leading designer and manufacturer of highly engineered paint booths, finishing solutions, and related accessories for the automotive collision repair and industrial end markets. By incorporating sophisticated airflow technology, Garmat USA's premium paint booths deliver high throughput rates and energy efficiency, maximizing facility-level economics to achieve an attractive total cost of ownership for high volume collision repair operators. Garmat USA serves its national, multi-site operator ("MSO") customers and independent repair shops through a nationwide distributor network.

About MPE Partners

MPE Partners ("MPE" or "Morgenthaler Private Equity") seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with EBITDA between $5 - $20 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.

SOURCE MPE Partners