Wynnchurch Stays Busy with EMS Buy

Wynnchurch Capital has acquired Eastern Metal Supply, a distributor of aluminum extrusions and related products.

Eastern’s aluminum extrusions are sold into the industrial, commercial, residential, and marine end markets and are used in a variety of applications. The company was founded in 1982 and now has fourteen distribution centers and manufacturing facilities that total nearly 1.5 million square feet under roof.

The company is led by Greg Weekes, president and co-founder, and has 800 employees with a headquarters near West Palm Beach in Lake Worth, FL (www.easternmetal.com).

“We have built and grown Eastern by providing our customers with exceptional service, just-in-time delivery and a wide breadth of value-added products,” said Mr. Weekes. “Wynnchurch shares this commitment and we are excited to partner with them as we continue that mission and pursue our next phase of growth.”

“For nearly 20 years, a core part of our strategy at Wynnchurch has been investing in founder-led companies.  We are very fortunate to be able to continue this with our investment in Eastern and partnership with Greg,” said Chris O’Brien, a managing partner at Wynnchurch.

Wynnchurch has been an active acquirer in 2019 and is investing from its $1.3 billion fourth fund which closed in November 2014. In June, the firm acquired MPL Company, a Fairland, IN-based build-to-order manufacturer of cultured marble bath products including panels, surrounds, shower pans, and other accessories. Cultured marble is a blend of stone particles, resins, and pigments that is cast in molds to produce specific forms in a range of colors and natural-looking patterns.

Just two weeks before closing on MPL, Wynnchurch acquired two closed-die forging facilities from publicly traded Allegheny Technologies for $37 million in cash. The acquired closed-die operations are in Portland, IN and Lebanon, KY and produce carbon and alloy steel forged products for blue-chip OEMs primarily in the oil and gas, transportation, construction, and mining industries. In April, the firm acquired Alliance Designer Products, a Mirabel, QC-based manufacturer of polymeric sand and other products that are used in residential and commercial hardscaping projects; and in February, Wynnchurch acquired Boss Industries, a LaPorte, IN-based maker of power take-off (PTO) rotary screw air compressor systems that are used to power tools that need constant air pressure (e.g., jackhammers) and tools that require intermittent air pressure (e.g., wrenches and drills).

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. Wynnchurch was founded in 1999 and is headquartered in the Chicago suburb of Rosemont with additional offices in Los Angeles (El Segundo), and Toronto (www.wynnchurch.com).

© 2019 Private Equity Professional | October 2, 2019

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