Wynnchurch Capital has acquired Boss Industries, a maker of compressed air power systems, from Strait Lane Capital Partners which acquired the company in July 2014.
Boss Industries is a manufacturer of power take-off (PTO) rotary screw air compressor systems that are used to power tools that need constant air pressure (jackhammers) and tools that require intermittent air pressure (wrenches and drills).
The company’s products are used in the utility and municipality markets as well as in fire-fighting, military, tire service, mechanics trucks, railroads, mining, and construction applications. Boss was founded in 1988 and is headquartered in a 50,000 sq. ft. facility in LaPorte, IN (www.bossair.com).
“We are committed to driving value for all of our customers and are thrilled to partner with Wynnchurch as we continue that mission,” said Todd Hudson, President of Boss. “Wynnchurch understands the demanding needs of our customers and has the resources and expertise to help take our company into a new phase of expansion.”
“Boss has built a market-leading reputation that uniquely addresses its customer’s needs through innovative design, proven quality, and unmatched reliability,” said Paul Ciolino, an operating partner at Wynnchurch. “We are excited to partner with Todd and his team to build on the company’s impressive track record of growth.”
Wynnchurch 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.
“We believe that the company’s industry-leading product portfolio, combined with Wynnchurch’s experience, positions Boss for continued success,” said Chris O’Brien, a managing partner at Wynnchurch.
Wynnchurch is actively investing from its $1.3 billion fourth fund which closed in November 2014. 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).
Strait Lane, the seller of Boss, makes control investments in US-based niche manufacturing, business, or technology companies that have at least $2 million of EBITDA. The firm was founded in 2009 and is headquartered in Dallas (www.straitlanecapital.com).
© 2019 Private Equity Professional | February 5, 2019
Saco Foods, a portfolio company of Benford Capital since December 2016, has acquired California Sun Dry Foods from Gary DeAtley and Bill Riley.
Saco Foods is a packager and distributor of food products to supermarkets and mass retailers. The company’s products include Dolci Frutta, a microwaveable chocolate coating sold primarily as a complement to fruits and nuts, as well as powdered instant milk, powdered dry buttermilk, and baking cocoa. The company was founded in 1973 and is headquartered near Madison in Middleton, WI (
Benford Capital invests in lower middle market companies that have revenues of at least $3 million and EBITDA of at least $1 million. Sectors of interest include niche manufacturers, unique service companies, and specialty distributors. The firm was founded by Edward Benford and is based in Chicago (
Hidden Harbor Capital Partners has closed its debut fund, Hidden Harbor Capital Partners I LP, at an above-target $265 million.
Investors in the new fund include endowments, foundations, pensions, family offices and funds of funds. “We are humbled by all of the support from our limited partners, and look forward to building great companies rooted in our core values of integrity, team, high-performance, passion and a commitment to constant improvement,” said Mr. Caple.
Since its founding, Hidden Harbor has completed four acquisitions including Houston-based Stella Environmental Services, a waste transfer station manager acquired in August 2017; Fort Smith, AR-based Cloyes Gear & Products, a manufacturer and distributor of timing drive systems 
and components for the automotive aftermarket acquired in April 2018; Rohnert Park, CA-based Masterwork Electronics, a provider of printed circuit board assembly services and cable and harness assembly services acquired in July 2018; and Anchor Danly, a Windsor, ON-based manufacturer and distributor of industrial tooling acquired in September 2018.
Advent International has hired Bryan Taylor as a managing partner to lead Advent’s technology investment team. He will be based in the firm’s new office in the San Francisco Bay Area which will be opened later this year.
Most recently, Mr. Taylor was a partner and co-head of TPG Capital’s technology group, where he jointly led its 20-person team that invested in software, data analytics and technology services. He left TPG Capital in October 2017. He has experience across a range of transaction sizes, from later-stage growth equity investments to large-scale buyouts.
At Advent, Mr. Taylor will work closely with the firm’s 14-person technology team. Eric Wei, a managing director on Advent’s technology team in New York, will be relocating to the Bay Area this summer.
