Wynnchurch Capital announced that it has acquired from Clyde Bergemann Power Group its pulp and paper business and certain regional industrial segments operating as Clyde Industries. The Company is headquartered in Atlanta, Georgia, with additional manufacturing facilities in Brazil and offices in Colombia, Canada, Finland and Indonesia.
Clyde Industries is the preeminent provider of highly engineered boiler efficiency/cleaning systems, spare parts and services for the global pulp & paper industry and is a leader in providing equipment and aftermarket part solutions for industrial applications in North America, South America, Scandinavia and Indonesia. The Company has developed significant innovations in its core sootblower offering, encompassing mission critical technologies designed to remove residue and deposits that build up in recovery and power boilers (with such residue creating safety hazards, process efficiency reductions or complete boiler shutdown if not properly eliminated). Clyde Industries not only provides the equipment, but a host of related services and aftermarket assistance to support its customers’ operations.
“Wynnchurch understands and supports our vision for growth and we are excited to partner with them to help expand our offerings with a focus on continuing to drive increased value and innovation for our customers,” said Dominick Garton, President/CEO of Clyde Industries.
Frank Hayes, Managing Partner at Wynnchurch, added, “As a global leader of highly engineered, industrial applications, Clyde Industries is a strong fit with Wynnchurch’s investment strategy. This acquisition also demonstrates the constructive way Wynnchurch works with corporate parents to quickly and efficiently carve-out certain operations. We are delighted to partner with Dominick and his team to further support their growth initiatives.”
Neel Mayenkar, Managing Director at Wynnchurch, added, “We believe the Company’s industry leading sootblowing technology and services position the business for continued success. Dominick and his team have built a culture of excellence, with a history of innovation and superior customer-centric solutions. We are excited to invest with Dominick and his team in growing this platform.”
Wynnchurch Capital is actively investing from its $1.3 billion Fund IV. In September, Wynnchurch acquired Eastern Metal Supply, a leading value-added distributor of aluminum extrusions and related products. Other recent Wynnchurch investments include: 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; Alliance Designer Products, Inc., a leading manufacturer of polymeric sand and related installation products used in residential and commercial hardscaping projects; and Boss Industries, a leading provider of power take-off and engine driven rotary screw air technologies.