James A. Squatrito Named CEO of Compass Automotive Group

Compass Automotive Group, Inc, a leading provider of aluminum and magnesium component solutions to car makers and Tier I automotive suppliers, today announced that James A. Squatrito has been named Chief Executive Officer. Current President and CEO Craig Conaty will remain with the company as President and Chief Operating Officer.

Squatrito, who has more than 30 years of experience in the automotive supply chain, will drive Compass’ growing portfolio of cost-effective, safety-critical component solutions to Tier I suppliers worldwide. He will immediately turn his attention to Compass’ ongoing integration of Alcoa Automotive Castings, a manufacturer of a full range of safety-critical suspension and chassis components acquired from Alcoa, Inc. in November 2007, in addition to continuing the $220 million company’s focus on lean manufacturing.

“Compass has grown quickly, consolidating Tier II automotive suppliers to become the leading North American supplier of safety-critical aluminum and magnesium components for chassis and suspension applications,” said Squatrito. “I look forward to working closely with the distinguished leadership team already in place, including Craig Conaty and industry veteran and Board Member Gary Convis, as we continue to capture substantial additional market share while the automotive supply chain continues to consolidate.”

Prior to joining Compass, Squatrito was President and Chief Operating Officer of Vitec, LLC, a $200 million Tier I automotive supplier of fuel tanks, where he strategically repositioned the company, reconstructing the capital structure and leading improvements in customer commercial relationships and operations performance. Previously, as President and CEO for North America of Inergy Automotive Systems, a $1.2 billion global supplier of plastic blow molded fuel tanks for the automotive industry, he drove operational enhancements, diversified the OEM customer base and increased overall market share. Earlier he held operational positions at Avery Dennison Corporation and TRW, Inc.

“Jim is a proven leader in the industry and I’m delighted to welcome him to the Compass family,” said Conaty. “We are building a strong Team at Compass and we are selectively adding the right resources to ensure we continue our substantial momentum and Compass becomes an industry-leading automotive platform.”

Compass is owned by Monomoy Capital Partners, L.P., a New York private equity fund that makes controlling investments in middle market companies that require operational or financial restructuring.

“Through active partnership, Monomoy is dedicated to providing Compass and all of our portfolio companies with top tier financial and management resources,” said Justin Hillenbrand, a Monomoy Partner. “Compass has unmatched industry expertise in the executive suite with Jim and Craig leading the way, and we look forward to Compass continuing to thrive as it expands its presence in the automotive supply chain.”

About Compass Automotive Group, LLC

Compass Automotive Group, LLC is a leading provider of engineered component solutions to Tier I automotive suppliers formed in July 2007 by Monomoy Capital Partners, L.P. to consolidate safety critical component manufacturers in the automotive supply chain. Compass is the corporate parent of Casting Technologies Company, a casting manufacturer utilizing proprietary squeeze casting and VRC/PRC processes to produce premium grade aluminum suspension components, cross-members and compressor scrolls; Magnesium Aluminum Corporation, a die cast manufacturer of aluminum and magnesium steering wheels, steering columns and airbag enclosures; and SRC, the leading North American manufacturer of magnesium flux, a refining agent used in the production of industrial aluminum and magnesium. Compass employs more than 900 team members in Detroit and Fruitport, Michigan; Franklin, Indiana; Cleveland, Ohio; Matamoras and Chihuahua, Mexico; Farsund, Norway and Stuttgart, Germany, and produces parts for cars, motorcycles and light trucks sold in North America, Europe and Asia.

About Monomoy Capital Partners, L.P.

Monomoy Capital Partners, L.P. is a $280 million private equity fund that makes controlling investments in middle market companies that require operational or financial restructuring. Monomoy targets fundamentally sound businesses with revenues of less than $200 million and acquires businesses through bankruptcy proceedings, out-of-court restructurings, corporate divestitures and other complex transactions. The Fund has completed 13 transactions over the past 28 months in the smaller end of the middle market and currently owns 8 business that collectively employ more than 5,000 people. For additional information on Monomoy and its portfolio companies, please visit www.mcpfunds.com.