Wynnchurch buys Texas manufacturer, eyes new investments

Illinois-based private equity manager Wynnchurch Capital announced its acquisition of the assets of Western Forge & Flange Co., a manufacturer of specialty forgings and flanges headquartered in Cleveland, Texas. The new acquisition will combine with another Wynnchurch portfolio company Pennsylvania Machine Works based in Aston, Pennsylvania and was bought out by the Chicago-area private equity firm in February. “Western and Penn Machine have both built strong reputations for providing customers with specialty forged products for the most demanding applications with industry-leading service levels,” said Greg Gleason, partner at Wynnchurch. The investment team at the private equity firm are seeking investment opportunities for its $2.3 billion Fund V that closed in January. Institutional investors seemingly flocked to Illinois-based Wynnchurch Capital’s fifth offering, as the firm originally had targeted $1.6 billion for the fund. Like a good number of other private equity funds that as of late are significantly oversubscribed, Wynnchurch easily reaching its hard cap and closing after its initial launch last September. As previously reported by Alternatives Watch, institutional investors in the fund include the Texas County & District Retirement System, which announced a $70 million commitment to the value-based middle market buyout fund that focuses on equity and debt investments of U.S. and Canadian companies. The Los Angeles County Employees’ Retirement Association approved a $75 million commitment to the fund last year. “We are excited to add Western to the platform to create one of the largest domestic, vertically integrated manufacturers of fitting and flanges with meaningful growth potential,” added Paul Ciolino, partner at Wynnchurch.

Wynnchurch buys Texas manufacturer, eyes new investments

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