Atlanta-based Mueller Water Products is selling U.S. Pipe, which makes pipes, fittings, valves, hydrants and related products, to the Chicago-based private equity firm Wynnchurch Capital for $89.8 million in cash, subject to post-closing adjustments. Comvest Group, a private equity firm based in West Palm Beach, Florida, is helping to shepherd the transaction. PRESS RELEASE: Mueller Water […]Continue
Maranon Capital has provided growth financing to Humanetics Innovative Solutions, which is backed by Wynnchurch Capital. The financing consisted of a senior revolving credit facility, term loan plus mezzanine debt. Plymouth, Mich.-based Humanetics makes and designs sophisticated crash test dummies.Continue
Monroe Capital has provided $27.5 million in financing to support the acquisition of Fabco Automotive by Wynnchurch Capital. Fabco makes specialty gearbox, axle and transfer case products for all-wheel drive, medium and heavy duty vehicles.Continue
Want to catch up on what your colleagues found most interesting on peHUB this week? Here are the posts written by our staff that garnered the most pageviews from March 7 to March 11.
1. Disqus to Facebook: “We Aren’t Shaking In Our Boots” – by Connie Loizos.
2. Is Savvis Finally Up for Sale? Tech Co. Said to Have Hired Qatalyst – by Luisa Beltran.
3. Schwarzman, At $5.9B, Among Richest LBO Pros (Well Ahead Of Kravis) – by Steve Bills.
4. Summit Partners Raising $3B Growth Equity, $450M Venture Funds – by Mark Boslet.
5. Doerr, Moritz Make Forbes’ Billionaire List; Will They Make the Resurrected Midas List, Too? – by Alastair Goldfisher.
6. Israeli Venture Funds Raised Zero Dollars in 2010; The Situation is “Critical” – by Connie Loizos.
7. HCA Doesn’t Look So Bad. Here’s The Top 10 PE-backed IPOs – by Luisa Beltran.
8. It Took Two Years But Wynnchurch’s Third Fund Comes In at $603M – by Luisa Beltran.
9. This Anti-Registration Campaign Might Have Legs – by Bernard Vaughan.
10. Sequoia, Google Ventures Join $32M Round For HubSpot – by Mark Boslet.Continue
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.”Continue
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.Continue
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 […]Continue
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 […]Continue
Wynnchurch Capital has completed its acquisition of bankrupt auto parts supplier Proliance International Inc., for $21.5 million. Leveraged financing was provided by The Private Bank.Continue
(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 […]Continue
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. www.wynnchurch.comContinue
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.Continue
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.Continue
Stephen Welborn has joined Wynnchurch Capital, a Chicago-based mid-market PE firm, as a managing director. He previously was COO of Gateway Marketing International.Continue
Wynnchurch Capital, a Chicago-based middle-market private equity firm, has opened an office in Toronto. It will be run by new managing director Morty White, who previously wan his own consulting practice and, before that, worked for GE Capital.Continue
Michael Teplitsky and Greg Gleason have joined Wynnchurch Capital as a senior associate and associate, respectively. Teplitsky recently received his MBA from the Kellogg School, and previously was an associate with Lime Rock Partners. Gleason previously was a financial analyst in the global industrials group of Houlihan Lokey. PRESS RELEASE Wynnchurch Capital is […]Continue