Wynnchurch Capital has named four new partners with the promotions of Greg Gleason, Brian Crumbaugh, Paul Ciolino and Roy Sroka.
“We are thrilled to announce these well-deserved promotions to partner. They are a recognition of the hard work, dedication and significant contributions of Greg, Brian, Paul and Roy to the growth and success of Wynnchurch,” said John Hatherly, the founder, and a managing partner of Wynnchurch.
Mr. Gleason has been with Wynnchurch since 2008. Earlier in his career, he was at Houlihan Lokey and Bank of America. He has his MBA from The University of Chicago and his undergraduate degree from the University of Illinois. In addition to his promotion to partner, Mr. Gleason will also become a member of Wynnchurch’s investment committee.
Mr. Crumbaugh joined Wynnchurch in 2010 with past experience at ShoreView Industries and Piper Jaffray. He has an MBA from Wharton and a BBA from the University of Wisconsin.
Mr. Sroka joined Wynnchurch in 2006. Previously, he was the director of operations at Chicago Administration and Corporate Services, a third-party administration office for internationally-based hedge funds.
Mr. Ciolino joined Wynnchurch in 2016 as an advisor after serving as CEO of U.S. Pipe, an Alabama-based manufacturer of ductile iron pipe products and fittings used in drinking water and wastewater systems. U.S. Pipe was a portfolio company of Wynnchurch from 2012 to 2016. Mr. Ciolino has MBA from Rutgers and his undergraduate degree in mechanical engineering from Cornell.
“We are truly fortunate to have such a deep and long-tenured team of leaders at Wynnchurch, especially during such challenging times. Their character, leadership and experience will drive continued growth and value creation for our investors,” said Chris O’Brien, a managing partner at Wynnchurch.
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 are excited to announce these promotions and expand the leadership team at Wynnchurch. Each of these individuals has made significant contributions to Wynnchurch across all functions of the firm and we are grateful for their partnership and commitment,” said Frank Hayes, a managing partner at Wynnchurch.
In January 2020, Wynnchurch 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. Wynnchurch is actively seeking investment opportunities for its new fund.
The most recent platform buy for Wynnchurch was in February 2020 when it acquired Pennsylvania Machine Works (Penn Machine), a manufacturer of high pressure forged fittings that are used in the marine, oil and gas, nuclear power, petrochemical, shipbuilding, cryogenic and steel making industries. The company has capabilities in carbon and stainless steels, nickel alloys, chromium-molybdenum alloys, titanium, aluminum alloys, and copper-nickel. Just last month, Penn Machine completed the add-on acquisition of Texas-based Western Forge & Flange, a maker of specialty forgings used in the petrochemical, nuclear, military, and industrial sectors.
Wynnchurch was founded in 1999 and is headquartered in the Chicago suburb of Rosemont with additional offices in Los Angeles (El Segundo), and Toronto.
Private Equity Professional | May 1, 2020