M&A Deal Summary

Wynnchurch Capital Acquires Industrial Service Solutions

On December 19, 2022, private equity firm Wynnchurch Capital acquired business services company Industrial Service Solutions from The Edgewater Funds and JZ Partners

Acquisition Highlights
  • This is Wynnchurch Capital’s 4th transaction in the Business Services sector.
  • This is Wynnchurch Capital’s 51st transaction in the United States.
  • This is Wynnchurch Capital’s 6th transaction in Texas.

M&A Deal Summary
Date 2022-12-19
Target Industrial Service Solutions
Sector Business Services
Buyer(s) Wynnchurch Capital
Sellers(s) The Edgewater Funds
JZ Partners
Deal Type Secondary Buyout

Target

Industrial Service Solutions

Houston, Texas, United States
website
Industrial Service Solutions is a provider of industrial field services, repair, and refurbishment of equipment found in most industrial and manufacturing facilities in North America. Industrial Service Solutions was founded in 2007 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

Wynnchurch Capital

Rosemont, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1999
PE ASSETS 5.3B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Wynnchurch Capital is a private equity firm focused on middle-market company investments in the US and Canada. Wynnchurch looks to commit up to $500 million of equity per transaction in industries spanning manufacturing, business services, logistics, energy and power services, and value-added distribution. Prospective transaction types include management buyouts, recapitalizations, corporate carve-outs, restructurings, turnarounds and growth capital situations. Wynnchurch Capital was formed in 1999 and is based in Rosemont, Illinois.

DEAL STATS #
Overall 63 of 66
Sector (Business Services) 4 of 4
Type (Secondary Buyout) 13 of 16
State (Texas) 6 of 8
Country (United States) 51 of 54
Year (2022) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-26 Foss Floors

Rome, Georgia, United States

Foss Floors is a manufacturer of specialty engineered fibers. Foss develops innovative non-woven, environmentally friendly, and anti-microbial fiber solutions for a wide variety of industries and applications, including commercial, residential, municipal/civil, craft/hobby, marine, and medical. Foss was on a strong growth trajectory and sought to partner with an operationally focused investor to support its long-term growth plan. Foss Floors is based in Rome, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-24 FloWorks

Pasadena, Texas, United States

FloWorks is a specialty distributor of critical flow control products and a provider of tailored technical solutions for MRO-focused applications. The Company serves customers across chemicals, downstream refining & renewables, high purity & sanitary, and other industrial end markets. Its product categories include valves & automation, corrosion-resistant flow control, rotating equipment, flanges, filters & purifiers, and instrumentation. FloWorks is based in Pasadena, Texas.

Buy -

Seller(S) 2

SELLER

The Edgewater Funds

Chicago, Illinois, United States

website

Category Private Equity Firm
Founded 1991
PE ASSETS 2.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Edgewater Funds is a private equity firm that targets investments in profitable, middle-market growth companies. Target companies typically have revenues of $20 to $500 million in revenue and EBITDA of $5 to $30 million. The Firm will consider minority and control investments in the form of growth capital financings and traditional buyouts. Edgewater looks for North American businesses operating in a variety of industries. Sectors of interest include business services; financial and government services; consumer products and services; healthcare; IT services and software; and industrial/manufacturing. Edgewater was formed in 1991 and is based in Chicago, Illinois.

DEAL STATS #
Overall 39 of 40
Sector (Business Services) 3 of 3
Type (Secondary Buyout) 15 of 16
State (Texas) 4 of 4
Country (United States) 38 of 39
Year (2022) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-15 Rensa Filtration

St. Charles, Illinois, United States

Rensa Filtration is a designer and manufacturer of air filtration products and services for commercial and industrial applications. Rensa Filtration is based in St. Charles, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-01 Dura Products

Arcadia, Indiana, United States

Dura Products is a manufacturer and distributor of fluid transfer, metering, and systems providing solutions primarily for the agriculture industry. Dura Products is based in Arcadia, Indiana.

Buy -
SELLER

JZ Partners

website

Category Private Equity Firm
Founded 1986
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

JZ Partners is a private equity firm focused on acquiring middle-market companies valued up to $200 million. JZ seeks profitable companies with strong management, defensible market positions, and low capital expenditures. Sectors of interest include niche manufacturing, value-added distribution, industrial services, healthcare, education, transportation, and business services. JZ Partners was formed in 1986 and has offices in Chicago and New York City.

DEAL STATS #
Overall 11 of 11
Sector (Business Services) 2 of 2
Type (Secondary Buyout) 6 of 6
State (Texas) 3 of 3
Country (United States) 11 of 11
Year (2022) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-17 SloanLED

San Angelo, Texas, United States

SloanLED is a designer and manufacturer of LED lighting systems for use in sign, spa, and optoelectronic applications. SloanLED was founded in 1957 and is based in San Angelo, Texas.

Sell -
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