Wynnchurch Capital has acquired MPL Company, a maker of cultured marble bath products.
MPL is a 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.
The company’s customers are active in the hospitality and multi-family housing markets and include Marriott International, Hilton Hotels & Resorts, InterContinental Hotels Group, Choice Hotels International, and La Quinta Inns & Suites. MPL, led by CEO Bob Claxton, was founded in 1962 and is headquartered in Fairland, IN (www.mplcompany.net).
“MPL’s success is driven by our commitment to providing customers with market leading service and quality; we are excited to partner with Wynnchurch in furthering these efforts,” said Mr. Claxton. “Wynnchurch understands what has propelled us to the position we are in today and has the resources to fuel the company’s aspirations for continued growth.”
“MPL has developed strong customer relationships through its impressive product offering, collaborative approach and reliability,” said Paul Ciolino, an operating partner at Wynnchurch. “We are thrilled to partner with Bob and his team to help facilitate the next phase of growth for the business.”
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.
“The MPL team has established a strong foundation for growth and we believe that through further investment in the business by Wynnchurch, we can expand on that track record of success,” added Chris O’Brien, a managing partner at Wynnchurch.
Wynnchurch is actively investing from its $1.3 billion fourth fund which closed in November 2014. Earlier this month, 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 & gas, transportation and construction & mining industries. In April, the firm acquired Alliance Designer Products, a Mirabel, QC-based manufacturer of polymeric sand and other installation 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 (jackhammers) and tools that require intermittent air pressure (wrenches and drills).
Wynnchurch 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).
© 2019 Private Equity Professional | June 20, 2019