Wynnchurch Sells Webex to Bertram Capital

Bertram Capital has acquired Webex Holdings, a portfolio company of Wynnchurch Capital. Financial terms weren’t announced. Neenah, Wis.-based Webex makes engineered rolls, converting components and specialized machinery used in web process manufacturing. Livingstone provided financial advice to Webex/Wynnchurch.


Livingstone, the leading independent, international investment banking
firm, is pleased to announce that Webex Holdings, Inc. (“Webex” or the “Company”), a portfolio
company of Wynnchurch Capital, Ltd. (“Wynnchurch”), has been acquired by Bertram Capital
(“Bertram”). Livingstone served as the exclusive financial advisor to Webex and Wynnchurch. Terms of
the deal were not disclosed.
Based in Neenah, Wisconsin, Webex is a market leading manufacturer of engineered rolls, converting
components and specialized machinery used in web process manufacturing. The Company’s products
are used across numerous end markets including flexible packaging, consumer products,
confectionary/food, tissue, and carbon fiber applications. Webex maintains longstanding relationships
with 2,000+ customers worldwide, many of which are global leaders in their respective markets.
“We are pleased to have partnered with Webex and to complete a very successful exit,” commented
Wynnchurch Partner Frank Hayes. “Livingstone’s sector knowledge and deal expertise throughout the
sale process was critical to closing the transaction.”
“Webex built a compelling platform through a combination of product development, engineering
expertise and strategic acquisitions that was attractive to many potential acquirers,” commented
Livingstone Partner Steve Miles. “We’re proud to have represented Webex and to add Wynnchurch
as another satisfied private equity client to Livingstone’s ranks.”
“As an established market leader in the web processing equipment sector, Webex is well positioned to
capitalize on its ambitious domestic and international growth program,” said Livingstone Vice President
Karl Freimuth. “Livingstone’s industrial team facilitated a competitive global auction process, and the
sale of Webex illustrates another example of our expertise in completing sales of specialized niche
The Webex closing marked the firm’s 10th niche manufacturing transaction in 2012, following recent
sales of Double E to Incline Equity Partners, Koontz-Wagner Custom Controls to Global Power
Equipment Group, Cableform to Hubbell, Applied Kilovolts to ITT Exelis, and WEENER Plastik to
Lindsay Goldberg.
About Wynnchurch Capital
Wynnchurch Capital, Ltd. headquartered in the Chicago suburb of Rosemont, Illinois with offices in Dallas, Detroit
and Toronto, and an affiliate office in Montreal, 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 which have outstanding management teams and possess the potential for substantial growth and profit
improvement. Wynnchurch focuses on investments in niche manufacturing, business and industrial services, energy
and power services, logistics and value-added distribution. Wynnchurch manages a number of private equity funds
with capital under management in excess of $1 billion specializing in management buyouts, recapitalizations,
corporate carve-outs, restructurings and growth capital.
About Bertram Capital
Bertram Capital is a Northern California-based private equity firm focused on investing in middle-market business
services, consumer, healthcare, industrial and technology companies. Bertram is currently investing out of its $500
million second fund and typically allocates $25-$100 million to each investment. Since the firm’s inception, Bertram
has managed in excess of $850 million in committed capital and has completed 10 platform investments and 14
follow-on acquisitions.