ROSEMONT, Ill.–(BUSINESS WIRE)–Wynnchurch Capital, LLC (“Wynnchurch”) announced today that it has
completed the acquisition of two closed-die forging facilities of
Allegheny Technologies Incorporated (NYSE:ATI). The operations are
located in Portland, Indiana and Lebanon, Kentucky and were part of
ATI’s High Performance Materials & Components segment.
Chris O’Brien, Managing Partner at Wynnchurch, said, “We are excited to
complete another corporate carve-out with the potential for significant
value creation and the opportunity to grow the platform.”
Greg Gleason, Managing Director at Wynnchurch, said, “The Portland and
Lebanon operations are well positioned businesses that have provided
customized products to their customers for decades. We look forward to
partnering with management and the company’s dedicated employees.”
Paul Ciolino, Operating Partner at Wynnchurch, added, “The business has
built a track record of delivering quality and reliable forging
solutions to its blue-chip customer base. Through the partnership with
Wynnchurch, we believe there is potential to leverage that reputation
and unlock significant growth in the business.”
Wynnchurch Capital is actively investing from its $1.3 billion Fund IV.
In April, Wynnchurch acquired Alliance Designer Products, Inc., a
leading manufacturer of polymeric sand and related installation products
used in residential and commercial hardscaping projects. Other recent
Wynnchurch investments include: Boss Industries, a leading provider of
power take-off and engine driven rotary screw air technologies; Infra
Pipe Solutions, a leading manufacturer of large diameter, high density
polyethylene pipe; Logistik Unicorp Inc., a worldwide leader in managed
clothing services and uniform solutions; Critical Process Systems Group,
a leading provider of mission-critical engineered solutions for
demanding industries and applications; and Team Car Care, the market
leader in the quick oil change segment of the “Do-It-For-Me” (“DIFM”)
automotive aftermarket.
About Portland and Lebanon:
Located in Portland, Indiana and Lebanon, Kentucky, the operations
provide high-value, complex forgings for blue-chip OEMs primarily in the
transportation, oil & gas, construction, mining, agricultural, and
aerospace and defense markets. Their capabilities include comprehensive
forging processes complemented by in-house design and engineering,
material expertise, product machining and heat treating services. Their
dedicated workforce has positioned the operations as leaders in quality
and customer service.
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: https://www.wynnchurch.com.
Contacts
Chris O’Brien
Managing Partner
[email protected]
847-604-6100
Greg
Gleason
Managing Director
[email protected]
847-604-6100
