Dynamat Names New Owner, Returns to Private Company

Dynamat, the long time sound dampening brand, was purchased by its Chief Financial Officer of 5 years, Scott Monnin in September. A letter informing dealers went out this week.

Monnin purchased the company from a publicly traded private equity firm, Gladstone Investment Corporation. Gladstone bought Dynamat in 2020 from founder Scott Whitaker, who led the company for about 30 years before retiring.

Monnin said he wants to return the company to a focus on local mom and pop shops. “My belief is that in the last few years, we’ve gotten away from the relationship business that Dynamat was founded on…The founder built strong relationships with locally owned mom and pop dealers and for the last few years we weren’t honoring that relationship,” Monnin said in a phone interview.

“I was the CFO as well as leading international sales at the company for the last five years.  I sat in on a lot of meetings with our domestic customers, as well…We want to spend more time with the dealers and distributors to understand their needs better to develop products to better service them…”

Dynamat is credited with being the first mass producer of sound dampening materials. It manufactures the material in-house in Ohio, which gives it the ability to experiment with new types of products for different markets, such as the race car market, which requires lighter material, Monnin said.

The market is expanding, Monnin said.  In 2008, Dynamat moved into the home market, which took off during COVID as people working from home wanted to block noisy dishwashers and dryers.

Dynamat’s letter to dealers said, “Dynamat is proud to say we are once again independently owned and fully committed to the top-notch customer service, innovation, and product performance that gave us the opportunities we have today.”