It Took Two Years But Wynnchurch’s Third Fund Comes In at $603 Mln

Just how hard is fundraising right now?

Consider Wynnchurch Capital, a middle market PE firm. Today, Wynnchurch announced that it has closed its third fund at $603 million. The pool was oversubscribed and came in above its $500 million target, according to a statement.

But Wynnchurch spent two years raising that $603 million, says Roy Sroka, CFO. “Fundraising was difficult,” Sroka says. “It’s very, very nice to be done.”

Littlejohn Buys Henniges Automotive From Wynnchurch Capital

Greenwich, Conn.-based Littlejohn & Co. has acquired Henniges Automotive Holdings from Wynnchurch Capital Partners. Financial terms of the deal were not released. Henniges, based in Farmington Hills, Mich., manufactures automotive sealing systems for doors, windows and trunks. Wynnchurch Capital is based in Rosemont, Illinois, and has more than $1 billion under management.

Wynnchurch Capital Holds First Close

Wynnchurch Capital Partners has held a first close on its third fund, Wynnchurch Capital Partners III LP, according to an SEC filing. Fund three has a $500 million target, a jump from its $300 million second vehicle. The Chicago-based mid-market private equity firm has gathered $203.72 million in commitments from 30 investors to date. Credit […]

Wynnchurch Capital

Wynnchurch Capital Partners III First report: June 26, 2008 Fundraising Snippets the Mid-Market Wynnchurch Capital is pre-marketing its third fund, Wynnchurch Capital Partners III LP., which will seek as much as $150 million more than its last fund, which was $300 million. Latest Update: March 16, 2009 Remains in market. The firm officially filed its […]

Proliance Files for Bankruptcy, Plans Sale

(Reuters) – Auto parts supplier Proliance International Inc (PLI.A) filed for bankruptcy protection in a Delaware court Thursday and said it agreed to sell all its U.S. assets to Centrum Equities XV LLC for $21.5 million. The company, which makes aftermarket heat exchange and temperature control products, said the sale would be supervised by the […]

Wynnchurch Buying Sencorp

Wynnchurch Capital has agreed to acquire Sencorp, the parent company of Cincinnati-based toolmaker Senco Products. Under terms of the $41 million agreement, Sencorp will file for a pre-packaged Chapter 11 bankruptcy.

Calyx Transportation Bulks Up

Calyx Transportation Group Inc., a transportation and logistics company majority-owned by Wynnchurch Capital Partners, has made three acquisitions: Totalline Transport, Kreative Carriers Transportation & Logistics Services Inc. and Bransam Logistics Services Inc. No financial terms were disclosed. Each of the acquired companies will become separate operating subsidiaries of Calyx Transportation.

LBO-Backed Bankruptcies 2009: One Month, 11 Down

Just over a month into 2009 and we’ve already seen 11 LBO-backed bankruptcies. That’s up over the eight we had this time last year, but nowhere near the massive wave some were predicting.

In fact, the size of these bankruptcies has also been much smaller than expected. The argument remains that mega-buyouts from the ’06 and early ’07 glory days have a few years before their debt matures.

Judging by purchase price, the largest companies to go down are Star Tribune, the newspaper backed by Avista, sugar alternative maker Merisant Worldwide, backed by Pegasus Capital, and Bruno’s Supermarkets, backed by Lone Star Funds. If TPG’s Aleris files in the coming weeks as expected, it would take the prize. TPG purchased the struggling aerospace supplier for $3.3 billion in 2006.

Find the spreadsheet after the jump.

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