U.S. private equity firm Wynnchurch Capital has acquired Logistik Unicorp Inc, a Saint-Jean-sur-Richelieu, Québec-based provider of managed clothing services and uniform solutions to a range of corporate and governmental organizations.
No financial terms were disclosed for the deal, which saw Wynnchurch partner with President and CEO Louis Bibeau, who founded Logistik in 1992.
Last week, Canadian private equity firm Clearspring Capital Partners said it sold its interest in Logistik. Clearspring, which first invested in 2011, did not disclose the buyer of the stake. The company has also been backed by Argosy Partners.
Wynnchurch Managing Director Morty White said his firm will focus on supporting Logistik in its “next stage of growth.”
Wynnchurch opened a Toronto office in 2009.
Wynnchurch Capital Acquires Logistik Unicorp Inc.
August 07, 2018
ROSEMONT, Ill.–(BUSINESS WIRE)–Wynnchurch Capital, LLC (“Wynnchurch”) announced today that it has partnered with Louis Bibeau to acquire Logistik Unicorp Inc. (“Logistik” or the “Company”). Louis is the founder of Logistik and has been Chief Executive Officer since the Company’s inception in 1992. Logistik is a worldwide leader in managed clothing services and provides uniform solutions to large organizations with complex uniform requirements. The Company provides a personalized, comprehensive solution including textile research, product design and testing, customer service and communications, sourcing of items, manufacturing capabilities, warehousing, inventory management, order processing, and distribution, as well as customized software development and data management.
John Hatherly, Managing Partner at Wynnchurch said, “Over the past 19 years, Wynnchurch has invested in niche, well-managed, market-leading businesses and we believe that Logistik is a perfect fit. The Company has demonstrated a long track record of providing unparalleled service to its clients.”
“We are eager to partner with Logistik’s world-class management team to build on the Company’s reputation of providing superior customer service, quality, and innovation,” added Erin Murphy, Managing Director at Wynnchurch.
Morty White, Managing Director at Wynnchurch, stated “We are excited to work with Louis and his team. Logistik is the pioneer of the managed services uniform industry and we look forward to helping the business in their next stage of growth.”
“I am thrilled to partner with Wynnchurch’s dynamic team. With them, our motto has never been so true: “Together, the sky is the limit”,” said Louis Bibeau, Chief Executive Officer of Logistik.
Wynnchurch Capital is actively investing from its $1.3 billion Fund IV. In June 2018, Wynnchurch acquired CPS, the leading provider of mission-critical solutions for highly demanding industries and applications. Other recent Wynnchurch investments include Team Car Care, the market leader in the quick oil change segment of the “Do-It-For-Me” (“DIFM”) automotive aftermarket; and Anderson Metals, a manufacturer of brass fittings, valves, and related products.
About Logistik Unicorp Inc.:
Logistik Unicorp Inc., founded in 1992 by Louis Bibeau and headquartered in Montreal, Quebec, is a worldwide leader in managed clothing services and provides comprehensive uniform solutions to a variety of organizations with complex requirements. This “managed services approach” reflects integrated total management, from conception and design to uniform delivery on an individual basis. The complete process is controlled and administered by management information systems developed internally and easily adaptable to each client. For more information, please visit: https://www.logistikunicorp.com.
About Wynnchurch Capital:
Wynnchurch Capital, LLC, headquartered in the Chicago suburb of Rosemont, Illinois, with offices in California and Canada, was founded in 1999, and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with $2.2 billion of committed capital under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings. For more information, please visit: www.wynnchurch.com.
Wynnchurch Capital, LLC