Wynnchurch Capital, a middle market private equity firm, acquired the thermal coating business assets of Appvion Holding Corp. and its subsidiaries.
Wynnchurch owns RV distributor Northern Wholesale Supply.
Founded in 1907 and headquartered in Appleton, Wisconsin, Appvion provides specialty and high-performance direct thermal coatings for label and film solutions as well as renewable, fiber-based consumer and industrial packaging solutions.
George Wurtz, Appvion CEO, commended the company’s strong and long-lasting relationships with customers. He said Appvion achieved the relationships by offering premium and innovative products, technical expertise and service.
“Wynnchurch shares our values of safety, integrity, honesty and putting the customers first to deliver value,” Wurtz said. “We are excited to partner with them to pursue our next phase of growth.”
Greg Gleason, managing partner at Wynnchurch, said Appvion is the market leader in direct thermal coatings in North America because of its commitment to technology and product innovation for its customers.
“We have been impressed with the people and culture at Appvion,” Gleason said, “and look forward to partnering with them to make significant investments to drive growth.”
Kevin Hanley, Wynnchurch vice president, said the business is well-positioned to benefit from strong market tailwinds in labels and packaging.
“We look forward to partnering with management to continue to pursue attractive growth opportunities,” Hanley said.
Wynnchurch is seeking investment opportunities for its $2.277 billion Fund V. In November, Wynnchurch acquired Owen, a provider of critical infrastructure equipment, aftermarket parts and services.
Other recent Wynnchurch investments include Trimlite, a manufacturer and distributor of residential doors and related door products, which was acquired in July; Northern Wholesale Supply, which was acquired in March; and The Wheel Group, a designer and distributor of branded aftermarket wheels, specialty tires, and related accessories, which was acquired in February.
