M&A Deal Summary

Wynnchurch Capital Acquires Owen Equipment

On November 15, 2021, private equity firm Wynnchurch Capital acquired machinery company Owen Equipment from CenterGate Capital

Acquisition Highlights
  • This is Wynnchurch Capital’s 8th transaction in the Machinery sector.
  • This is Wynnchurch Capital’s 46th transaction in the United States.
  • This is Wynnchurch Capital’s 2nd transaction in Oregon.

M&A Deal Summary

Date 2021-11-15
Target Owen Equipment
Sector Machinery
Buyer(s) Wynnchurch Capital
Sellers(s) CenterGate Capital
Deal Type Secondary Buyout

Target

Owen Equipment

Portland, Oregon, United States
Owen Equipment is a provider of specialty equipment platforms providing critical infrastructure solutions to municipal, utility, and commercial customers throughout the western United States. Owen serves as a dealer of new and pre-owned equipment, provides related parts and maintenance services, and maintains a large fleet of rental equipment used for sewer maintenance, hydro/vacuum excavation, street cleaning, and waste management applications. Owen Equipment was founded in 1958 and is based in Portland, Oregon.

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Buyer(S) 1

Buyer

Wynnchurch Capital

Rosemont, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 9.2B 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 $50 to $750 million of equity per platform. Sectors of interest include 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 58 of 72
Sector (Machinery) 8 of 9
Type (Secondary Buyout) 11 of 18
State (Oregon) 2 of 2
Country (United States) 46 of 60
Year (2021) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-15 Drew Foam

Monticello, Arkansas, United States

Drew Foam is a provider of custom-fabricated expanded polystyrene foam ("EPS") products serving the packaging, building products, and consumer end-markets, primarily in the Southeastern United States. Drew Foam was founded in 1965 and is based in Monticello, Arkansas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 M2S Group

Appleton, Wisconsin, United States

M2S Group is a provider of specialty and high-performance coatings for label and film solutions as well as renewable, fiber-based consumer and industrial packaging solutions. M2S’s functional coating solutions are applied to a wide variety of flexible substrates, including products from an FDA-compliant facility. M2S Group was founded in 1907 and headquartered in Appleton, Wisconsin.

Buy -

Seller(S) 1

SELLER

CenterGate Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2014
PE ASSETS 740M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

CenterGate Capital is a private equity firm focused on improving and growing lower middle market companies. The Firm looks to partner with companies generating $20 to $250 million in revenues. Sectors of interest include business services, industrials, energy services, consumer, and healthcare services. Prospective transaction situations include buyouts, divestitures, recapitalizations, shareholder liquidity needs, and restructurings. CenterGate Capital was founded in 2014 and is based in Austin, Texas.


DEAL STATS #
Overall 2 of 4
Sector (Machinery) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Oregon) 1 of 1
Country (United States) 2 of 3
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-08 Quality Harvest Foods

Portland, Oregon, United States

Quality Harvest Foods is a developer and contract manufacturer of frozen, filled baked snacks and handheld meals sticks, bites, pull-aparts, and calzones in a variety of dough flavors, product shapes, fillings (including cheese and fruit), and topicals. The company’s products, sold by branded food manufacturers through foodservice and retail grocery channels, are available in individual oven/microwave safe wrappers, multipacks, resealable pouches, and bulk packaging formats. Quality Harvest Foods was formed in 1964 and is based in Portland, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-23 TSC Apparel

Blue Ash, Ohio, United States

TSC Apparel is a national B2B distributor of imprintable apparel products and accessories. TSC stocks and sources thousands of styles of casual shirts, fleeces, headwear, sport shirts, outerwear, and accessories from six warehouses nationwide and three warehouses in China. TSC Apparel was founded in 2000 and is based in Blue Ash, Ohio.

Sell -