Wynnchurch Capital Acquires Certain Assets of Allegheny Technologies
Rosemont, IL — June 3, 2019Wynnchurch 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.
FOR MORE INFORMATION PLEASE CONTACT
Christopher P. O’Brien
Greg B. Gleason
ARTICLE SOURCE: Wynnchurch Capital