Wynnchurch Capital acquired Texas Hydraulics, a maker of hydraulic cylinders, swivels and other parts, from Dover Corp. Financial terms of the transaction were not disclosed.
PRESS RELEASE
ROSEMONT, Ill.–(BUSINESS WIRE)–Wynnchurch Capital, a leading middle-market private equity firm, has acquired Texas Hydraulics (the “Company”) from Dover Corporation. The Company is a leading manufacturer of highly engineered, custom-designed hydraulic cylinders, swivels and related components for mobile equipment applications. Founded in 1968, and headquartered in Temple, TX, Texas Hydraulics provides front-end design solutions for the most challenging applications in a diverse range of end-markets, including infrastructure, utilities, natural resources and transportation.
“We are excited to partner with Wynnchurch to grow our business and continue our nearly 50 year history of delivering innovation, quality and exceptional service to our customers. Wynnchurch has extensive experience helping manufacturing companies reach their full potential through growth and operational excellence,” said Pat Gerard, CEO of Texas Hydraulics.
Frank Hayes, Partner at Wynnchurch, said “Texas Hydraulics has a long, established track record of working with its global customer base to design custom solutions for the most complex applications. We are excited to partner with management to help expand this thought leadership, position the Company for continued growth and drive operational excellence throughout the business. Greg Gleason, Managing Director at Wynnchurch, added, “We look forward to helping the Company provide value to its customers with a focus on industry leading quality, delivery and service. Texas Hydraulics is also well positioned to leverage its engineering expertise to grow into new end-markets, geographies and product adjacencies.”
About Texas Hydraulics:
Founded in 1968, and headquartered in Temple, Texas, Texas Hydraulics is a leading manufacturer of highly engineered, custom-designed hydraulic cylinders, swivels and related components for mobile equipment applications. The Company is known as leading provider of front-end design solutions for the most challenging hydraulic cylinder, swivel and related applications. Texas Hydraulics uses its technical expertise related to valve integration, position sensing technology, large bore and long stroke cylinder manufacturing to provide a differentiated value proposition to its customers. The Company has long-standing relationships with blue-chip OEM customers across a variety of end-markets, including infrastructure, utilities, natural resources and transportation. For more information, please visit:www.texashydraulics.com
About Wynnchurch Capital:
Wynnchurch Capital, LLC, headquartered in the Chicago suburb of Rosemont, Illinois, with offices in California, Michigan, Ohio 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 $2.3 billion of capital under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings. For more information, please visit:Â www.wynnchurch.com
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