Wynnchurch Capital has completed its acquisition of Anderson Metals, a maker of brass fittings, valves, pipe nipples and related products that are used in plumbing, hardware and general industrial applications.
Family-owned and operated Anderson Metals specializes in products manufactured from brass forgings, rod and castings and the company can manufacture both standard off-the-shelf items and custom run parts. Anderson Metals supplies over 12,000 SKUs across a variety of categories including lead-free and leaded brass fittings, valves, pipe nipples, non-metallic fittings and assorted parts and accessories.
Last year, Anderson Metals processed more than 17,000 orders and has more than 27 million fittings in stock. The company was founded in 1947 and has an 84,000 sq. ft. distribution center and headquarters in Kansas City (www.andersonmetals.com).
“Anderson has built an outstanding reputation and strong leadership position in its industry during the past 70 years,” said Chris O’Brien, a Managing Partner at Wynnchurch. “We feel very fortunate to partner with Keith and Kent Anderson going forward. In addition, we believe this is an ideal opportunity for Paul Ciolino, a Wynnchurch Operating Partner and former CEO of US Pipe, to work with management and leverage his leadership, industry expertise and relationships to take Anderson to the next level.” US Pipe, a provider of ductile iron pipe products, fittings, and joint restraints used in water distribution and water management applications, was a portfolio company of Wynnchurch from 2012 to 2016.
“We knew right away that Wynnchurch was the right partner,” said Keith Anderson. “We are excited to work closely with Paul and the team to significantly grow the business both organically and through acquisitions.”
Wynnchurch Capital makes investments in middle-market companies that have revenues of $50 million to $1 billion. Sectors of interest include aerospace & defense, automotive, building products, chemicals, food, logistics, energy services & equipment, environmental services, industrial products & services, metals & mining, and paper & packaging. The firm was founded in 1999 and is located in the Chicago suburb of Rosemont with additional offices in Los Angeles (El Segundo), and Toronto (www.wynnchurch.com).
Wynnchurch Capital has been actively investing from its $1.3 billion Fund IV which had a final close in November 2014. In November 2017, Wynnchurch acquired St. Petersburg, FL-based America II, a distributor of electronic components. Other recent Wynnchurch investments include the June 2017 buy of Chicago-based Stampede Meat, a provider of portioned, marinated and cooked beef, chicken, and other protein products, from Fairmont Capital; and the December 2016 buy of Springfield, OR-based Rosboro Company, a manufacturer of engineered wood products used in residential and light commercial construction.
© 2018 Private Equity Professional | January 19, 2018
