ROSEMONT, Ill.--(BUSINESS WIRE)--Wynnchurch Capital, L.P. (“Wynnchurch”), announced today that it has acquired Hydraulic Technologies (“HT” or the “Company”) from SPX FLOW.
Tracing its roots back to 1925 and headquartered in Rockford, Illinois, Hydraulic Technologies designs, engineers and manufactures high-pressure hydraulic tools and equipment. A market leader in high-pressure hydraulic tools, HT’s products serve mission-critical applications and are essential in maintenance, repair, and operational functions across a wide range of industries, including infrastructure, manufacturing, and rail.
Aaron Sztuk, General Manager of HT, said, “We are proud of the reputation we have built providing superior performance, quality, and service to our customers who rely on Hydraulic Technologies for their mission-critical needs. Wynnchurch understands the strong value proposition we provide, and we could not be more excited to partner with them.”
Frank Hayes, Managing Partner at Wynnchurch, said, “As a global leader of highly engineered hydraulic tools, HT’s customer-centric focus on delivering best-in-class solutions for the most demanding of needs fits well with our investment philosophy. We are delighted to partner with Aaron and his team to further support their next phase of growth.”
Neel Mayenkar, Partner at Wynnchurch, stated, “HT is well positioned to benefit from the repair and replacement of aging global infrastructure and can tackle customers’ most complex and difficult jobs safely and efficiently. We plan to invest heavily to accelerate HT’s growth and build upon its industry- leading service and product offering.”
Carl Howe, Managing Director at Wynnchurch, added, “This acquisition demonstrates Wynnchurch’s constructive approach to quickly and efficiently carve out certain operations from their corporate parents. As a standalone company, we look forward to working with HT and its management team to drive growth and innovation.”
Morgan Stanley & Co. LLC acted as financial advisor, and Paul Hastings LLP acted as legal advisor, to Wynnchurch.
Wynnchurch manages a number of private equity funds with $9.2 billion of regulatory assets under management and is actively seeking investments. In April, Wynnchurch acquired Reagent, a leading distributor of hydrochloric acid in North America. Other recent investments include: Handgards, a leading distributor of foodservice products, including disposable gloves, reclosable bags, tabletop items, expendables, and other carryout products; FloWorks, a distributor of critical flow control products; and Industrial Service Solutions, a national provider of MRO-focused field, shop, and supply services.
About Hydraulic Technologies:
Headquartered in Rockford, Illinois, Hydraulic Technologies designs, engineers and manufactures high-pressure hydraulic tools and equipment. A market leader in high-pressure hydraulic tools, HT’s products serve mission-critical applications and are essential in maintenance, repair, and operational functions across a wide range of industries, including infrastructure, manufacturing, and rail. For more information, please visit: www.hydraulictechnologies.com or follow us on LinkedIn.
About Wynnchurch Capital:
Wynnchurch Capital, L.P., headquartered in the Chicago suburb of Rosemont, Illinois, with an affiliate in 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 $9.2 billion of regulatory assets under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs, and restructurings. For more information, please visit: www.wynnchurch.com or follow us on LinkedIn.
