Fairchild Capital Partners has made an equity investment in Weco Manufacturing to support a management-led recapitalization of the company.
Weco is a provider of design, prototyping, fabrication, machining, re-manufacturing, sub-assembly and final product assembly services to OEMs in the industrial, medical, transportation, audio, telecommunications, electronics and government sectors. The company also has capabilities in powder coating, painting and graphics.
Weco’s products include finished metal parts and assembled products such as enclosures, cabinets, shipping containers, panels, stands, chassis, mechanical assemblies and infrastructure parts. Weco is led by CEO Don Cornwell and is headquartered in the Rochester suburb of Ontario, NY (www.wecomfg.com).
“Weco has been strategically focused on expanding our range of capabilities to support our OEM customers in several different end markets. This requires investing in technology to build our offerings and sustain our business development,” said Mr. Cornwell. “This strategy has worked well, and now partnering with Fairchild Capital Partners, we will continue the expansion efforts enhancing growth organically, as well as through strategic partnerships. This will allow us to offer a wider breadth of service offerings to existing customers, as well as expand into new markets.”
“We are excited to partner with Don and the team at Weco,” said Ryan Martin, the managing partner of Fairchild Capital. “Weco has a long history of manufacturing high-quality products and achieving superior outcomes given the company’s focus on customer service and continuous efforts to enhance quality and capabilities.”
Fairchild Capital Partners invests in companies that have revenues of $5 million to $75 million and EBITDA of $1 million to $10 million. Sectors of interest include niche manufacturing, value-added distribution, logistics, consumer & retail, business & consumer services, environmental services and industrial services. The firm was founded in 2017 by Ryan Martin and is headquartered in Buffalo, NY (www.fairchildcapitalpartners.com).
© 2019 Private Equity Professional | January 11, 2019