“We are very satisfied with the successful sale of 4Front to The Assa Abloy Group, where we trust the company will continue its history of profitable growth under the leadership of Keith Moore and his team,” said John Hatherly, President of Wynnchurch.
4Front is a manufacturer of a complete line of loading dock equipment including mechanical, air-powered and hydraulic dock levelers, seals and shelters, trailer safety restraints, energy efficient HVLS fans, specialty dock doors, material handling lifts, and aftermarket parts and accessories. Brands include Kelley, LoadHog, Serco, TKO and APS Resource. The company is headquartered in Carrollton, TX (www.4frontes.com).
Wynnchurch partnered with the 4Front management team in October 2006 to purchase the business in a corporate carve-out from SPX Corporation. 4Front was an underperforming business when Wynnchurch purchased it in 2006. In partnership with Keith Moore, CEO of 4Front, and management, Wynnchurch devised an improvement plan which included growth and cost reduction initiatives.
The Assa Abloy Group is a Swedish lock manufacturer and the world’s largest by sales. The company’s products include access control, identification technology, entrance automation and hotel security. Assa Abloy was formed in 1994 when ASSA AB was detached from Swedish security firm Securitas AB. Assa Abloy owns Yale lock, Sargent and the high-security lock firms of Medeco in the U.S., Mul-T-Lock in Israel, Fichet-Bauche in France, and VingCard Elsafe International in Norway. The company is headquartered in Stockholm, Sweden and has approximately 41,000 employees and sales of more than SEK 42 billion (www.assaabloy.com).
Wynnchurch Capital makes investments of $10 million to $90 million in middle-market companies that have revenues of $5 million to $500 million. Sectors of interest include niche manufacturing, transportation & logistics, business services, value-added distribution, energy and power services, general industrials, and metals & mining. Wynnchurch Capital is located in the Chicago suburb of Rosemont, IL with additional offices Dallas, Detroit, and Toronto (www.wynnchurch.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-15-13