ROSEMONT, Ill.--(BUSINESS WIRE)--Wynnchurch Capital, L.P. (“Wynnchurch”), a leading middle-market private equity firm, announced today that it has acquired Principal Industries, LLC (“Principal” or the “Company”) alongside Principal’s founders, Bryan and Blake Vincent, as well as the management team.
Headquartered in San Angelo, Texas, Principal is a leading provider of LED components and engineered assemblies used in signage and brand imaging applications. Principal offers a broad and diverse range of products for signage and architectural branding illumination, including LED modules, Stiks, linear & edge lighting, drivers and controls, power modules, and specialty assemblies.
Todd Fiske, CEO at Principal, said, “Our long-standing relationships with our customers, suppliers, and go-to-market partners has allowed us to execute transformative product developments and acquisitions. Wynnchurch understands our value proposition, and we are excited to partner with them to continue executing on our core mission: Simplifying the lives of our customers.”
Brian Crumbaugh, Partner at Wynnchurch, said, “Principal’s market leadership position is underscored by its unique value proposition, comprehensive product offering, intense focus on distributor and end user success, and worldwide scale, allowing Principal to satisfy increasingly complex physical branding requirements. We are excited to partner with Todd and the rest of the Principal team to continue to drive growth across the enterprise.”
Carl Howe, Managing Director at Wynnchurch, added, “Principal’s track record of innovation and dedication to being a solutions provider to its customers align with the core tenets of a Wynnchurch partnership. We are excited to have the opportunity to support the Company as it enters its next phase of growth.”
Foley & Lardner LLP served as legal advisor to Wynnchurch.
About Principal Industries:
Founded in 2010 and headquartered in San Angelo, Texas, Principal is a leading provider of LED components and engineered assemblies used in signage and lighting applications. Principal offers a broad and diverse range of products for signage and architectural branding illumination. For more information, please visit: www.pindustries.com.
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. In August, Wynnchurch acquired ORS Nasco, North America’s largest pure wholesaler of industrial MRO supplies. Other recent investments include: Hydraulic Technologies, a market leader in high-pressure hydraulic tools; Reagent, the #1 specialty distributor of hydrochloric acid in North America; and Handgards, a leading distributor of foodservice products. For more information, please visit: www.wynnchurch.com or follow us on LinkedIn.
