Wynnchurch Capital Acquires Pennsylvania Machine Works
Rosemont, IL – February 25, 2020 – Wynnchurch Capital, L.P. (“Wynnchurch”) announced today that it has acquired Pennsylvania Machine Works, LLC (“Penn Machine”). Penn Machine is a fully integrated manufacturer of high pressure forged fittings and branch connections. Founded in 1931 and headquartered in Aston, Pennsylvania, Penn Machine has built a strong reputation for providing its customers with unmatched lead-times, high quality products in a diverse variety of material grades and excellent service.
“We are committed to providing our customers with a one-stop solution for all their forged fittings and branch connection needs, and are excited to partner with Wynnchurch as we continue that mission,” said Joe Pro, President of Penn Machine. Joe added, “Wynnchurch understands the importance of meeting the needs of our customers which is constantly evolving. Wynnchurch is the right partner to enable Penn Machine to reach the next level of growth.”
Chris O’Brien, Managing Partner, added, “Wynnchurch was recently recognized as one of the Top-50 Founder Friendly Private Equity Firms by Inc. Magazine and we are excited to build on that reputation with our investment in Penn Machine.”
Greg Gleason, Managing Director at Wynnchurch, said, “Penn Machine has built a strong reputation for providing customers with industry-leading service levels across a broad offering of fittings and branch connections. We are excited to partner with Joe and his team to continue the Company’s impressive track record.”
Paul Ciolino, Operating Partner at Wynnchurch, added, “We believe that the Company’s capabilities and reputation, combined with Wynnchurch’s experience, position Penn Machine for continued growth and success within its attractive end markets.”
Wynnchurch Capital is actively seeking investment opportunities for its $2.277 billion Fund V. In November, Wynnchurch acquired Clyde Industries, a leading designer and manufacturer of sootblowers, a critical component within recovery, power, and steam boilers. Other recent Wynnchurch investments include: Eastern Metal Supply, a leading value-added distributor of aluminum extrusions and related products; MPL Holdings, a leader in cultured marble products for the hospitality and multi-family housing markets; two closed-die forging facilities of Allegheny Technologies that produce high-value, complex forgings for OEMs; and Alliance Designer Products, Inc., a leading manufacturer of polymeric sand and related installation products used in residential and commercial hardscaping projects.
About Pennsylvania Machine Works:
Pennsylvania Machine Works, LLC, headquartered in Aston, Pennsylvania, is a fully integrated manufacturer of high pressure forged fittings and branch connections that are sold into downstream oil & gas, petrochemical, LNG, industrial and shipbuilding end markets. Founded in 1931, Penn has established itself as the industry leader for quick lead times, comprehensive manufacturing capabilities and high-quality products. Supported by its forging facility in Swedesboro, NJ and two machine shops in Aston, PA and Houston, TX, Penn is well positioned to meet the dynamic needs of its customers. For more information, please visit: https://www.pennusa.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 Capital 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.