Wynnchurch Capital Acquires Huntington Foam
Rosemont, IL – December 29, 2020 – Wynnchurch Capital, L.P. (“Wynnchurch”) announced today that it has acquired Huntington Foam, LLC (“Huntington” or the “Company”). Huntington is a leading manufacturer of highly engineered, shape molded, expanded polystyrene (“EPS”), high and low-density expanded polypropylene (“EPP”), and ARCEL (a polyethylene and EPS copolymer) products. The Company sells its products to the appliance, cold chain, automotive and building products end markets from its seven manufacturing facilities in the U.S. and Mexico. Huntington will unite under one platform with Drew Foam Companies, Inc. (“Drew”), a Wynnchurch portfolio company.
Frank Hayes, Managing Partner at Wynnchurch, said, “Huntington is highly regarded across the industry as a market leader in providing custom foam fabricating solutions to a wide range of end markets. The partnership between Huntington and Drew will drive significant benefits for their respective customer bases.”
Paul Ciolino, Partner at Wynnchurch, said, “Just like Drew, Huntington has a track record of outstanding quality, customer service, and technical expertise. The Company is truly a solutions provider to its customers, and we look forward to continuing to build on that reputation.”
Wynnchurch Capital is actively seeking investment opportunities for its $2.277 billion Fund V. In September, Wynnchurch made its first Fund V platform equity investment when it acquired Labrie Environmental Group, a leading manufacturer of refuse collection vehicles across North America. Other recent Wynnchurch investments include: Pennsylvania Machine Works, a fully integrated manufacturer of high pressure forged fittings and branch connections; Western Forge & Flange, a leading manufacturer of high-quality, specialty forgings and flanges; Clyde Industries, a leading designer and manufacturer of sootblowers, a critical component within recovery, power, and steam boilers; and Eastern Metal Supply, a leading value-added distributor of aluminum extrusions and related products.
About Huntington Foam, LLC:
Established in 1992, Huntington is a leading solutions provider of custom EPS, EPP and ARCEL product in the U.S. and Mexico. The Company is one of few industry participants with the technological capability to manufacture custom EPS, EPP, and ARCEL foam products. Huntington’s protective packaging products are used in the shipping and handling of high value products across the appliance, cold chain and other diversified markets. The Company also provides OEM parts for automotive and construction applications. The Company is headquartered in Greer, South Carolina, and operates seven manufacturing facilities across the U.S. and Mexico. For more information, please visit: https://www.hunt-sol.com.
About Drew Foam Companies, INC.:
Founded in 1965, Drew is a leading manufacturer of custom EPS block and shape molding products in the Southeast U.S. The Company offers a diverse product offering, high level of customer service and a differentiated just-in-time delivery model. The Company is headquartered in Monticello, Arkansas, and operates manufacturing facilities in Tennessee, South Carolina and Georgia. For more information, please visit: https://www.drewfoam.com.
About Wynnchurch Capital:
Wynnchurch Capital, L.P., 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 manages a number of private equity funds with $4.2 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.