Wynnchurch Hits Fund V Hard Cap

Wynnchurch Capital has closed its fifth private equity fund, Wynnchurch Capital Partners V LP, with $2.28 billion of committed capital. The new fund, which began its marketing in September 2019 with a target of $1.6 billion, was oversubscribed and closed at its hard cap.

Limited partners of Fund V include state pension funds, sovereign wealth funds, endowments, insurance companies, corporate pension plans, investment advisors and family offices from around the globe.

“We are appreciative and humbled by the interest from both existing and new investors, and are grateful for their support and partnership,” said John Hatherly, a managing partner at Wynnchurch.

“The support of and partnership with our investors is essential to the success of Wynnchurch,” added Frank Hayes, a managing partner at Wynnchurch. “We have built a reputation based on trust, transparency and teamwork, and we will continue to be good stewards of their capital.”

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.

In 2019, through its fourth fund which closed in November 2014 with $1.3 billion in capital, Wynnchurch has been a very active acquirer of new platform companies as follows:

  • Clyde Industries, an Atlanta-based provider of boiler cleaning systems, spare parts, and services to the pulp and paper industry (December 2019);
  • Eastern Metal Supply, a Lake Worth, Florida-based value-added distributor of aluminum extrusions and related products (September 2019);
  • MPL, a Fairland, Indiana-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 are cast in molds to produce specific forms in a range of colors and natural-looking patterns (June 2019);
  • Premier Forge Group, a Portland, Indiana-based operator of two closed-die forging facilities that produce carbon and alloy steel forged products for blue-chip OEMs primarily in the oil and gas, transportation, construction, and mining industries (June 2019);
  • Alliance Designer Products, a Mirabel, Quebec-based manufacturer of polymeric sand and other products that are used in residential and commercial hardscaping projects (April 2019);
  • Boss Industries, a LaPorte, Indiana-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) (January 2019).

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

“We are excited about Fund V and how our team is positioned today to invest with the same value-oriented and operationally focused strategy we have developed and refined over the last 20 years,” said Chris O’Brien, a managing partner at Wynnchurch.

The Private Fund Group of Credit Suisse Securities advised Wynnchurch on this fundraise and Ropes & Gray provided legal services.

© 2020 Private Equity Professional | January 28, 2020

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