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