U.S. private equity firm Wynnchurch Capital has acquired Buchanan Rubber Ltd, a Toronto-based distributor of industrial hoses, couplings and sheet rubber with about 8,000 SKUs.
Terms weren’t disclosed.
Founded in 1986, Buchanan distributes products to a range of end-markets, including petrochemical-energy, construction, mining, water handling-agriculture, food and beverage, and general industrial.
Wynnchurch said Buchanan will be part of a North American distribution platform that includes Anderson Metals LLC and Midland Metal Mfg, both of Kansas City, Missouri.
The acquisition gives the platform access to the Canadian market and new product offerings.
Earlier this year, Wynnchurch acquired Logistik Unicorp, a Saint-Jean-sur-Richelieu, Québec-based provider of uniform solutions.
Wynnchurch Capital Invests in Buchanan Rubber as Part of Growing Distribution Platform
December 05, 2018
ROSEMONT, Ill.–(BUSINESS WIRE)–Wynnchurch Capital, LLC (“Wynnchurch”) announced today that it has completed the acquisition of Buchanan Rubber Ltd. (“Buchanan”). Buchanan will be part of a growing distribution platform that includes Anderson Metals, LLC (“Anderson”) and Midland Metal Mfg. (“Midland”). The platform is a leading North American distributor of valves, fittings, hoses, couplings, and related products to a variety of end-markets.
Vince Hodes, CEO, said in a statement, “We are excited to leverage decades of industry expertise, product knowhow and management talent to create a leading distribution platform. With the addition of Buchanan, we gain access to the Canadian market and drive continued scale in the industrial, energy, water, and infrastructure sectors. In addition, we can now offer our customers new products with a full line of hose and couplings as we continue to enhance our value proposition and execute on our growth strategy.”
Jahan Roohi, co-owner of Buchanan, stated, “We’re excited about this new partnership with Wynnchurch and management and the tools and resources they bring to significantly grow our business as we take it to the next level.” Dave Merrick, co-owner of Buchanan, added, “This combination is not only a strong strategic fit with complementary products, geographies, and end-markets, but also an excellent cultural fit with our shared dedication to customer service and our employees. This is an exciting time for our business.”
Founded in 1986 and based in Toronto, Canada, Buchanan is a leading distributor of industrial hoses, couplings, and sheet rubber with approximately 8,000 SKUs. The company distributes products to a variety of end-markets including petrochemical/energy, construction, mining, water handling/agriculture, food & beverage, and general industrial. For more information, please visit: www.buchananrubber.com.
Founded in 1980 and based in Kansas City, MO, Midland is a distributor with over 13,000 SKUs comprising valves, fittings and related products. The company distributes to general industrial, hose, fluid power, plumbing, oil and gas, agriculture, water, truck and trailer, power transmission, and other end-markets. For more information, please visit: www.midlandmetal.com.
Founded in 1947 and based in Kansas City, MO, Anderson is a distributor and manufacturer with over 12,000 SKUs comprising valves, fittings, pipe nipples, and related products. The company distributes to plumbing, hardware, industrial, and other end-markets. For more information, please visit: www.andersonmetals.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.