Buchanan Rubber Addition to Growing Distribution Platform
| We are excited to announce the acquisition of Buchanan Rubber Ltd. (“Buchanan”) as part of our growing distribution platform that includes Midland Metal Mfg. (“Midland”) and Anderson Metals, LLC (“Anderson”) under the umbrella of Wynnchurch Capital, LLC (“Wynnchurch”), our private equity partner. Vince Hodes, CEO, said in a statement, “With the addition of Buchanan, we can now offer additional products, with a full line of hose and couplings, as we continue to enhance our value proposition and execute on our growth strategy. We are excited to leverage decades of industry expertise, product knowhow and management talent to continue to grow our leading distribution platform. We also gain access to the Canadian market and drive continued scale in the industrial, energy, water, and infrastructure sectors. Wynnchurch continues to be a fantastic strategic partner, continuing to show their willingness to invest in great people and companies, to bring value to our customers.” Jahan Roohi, co-owner of Buchanan, stated, “We’re excited about this new partnership with Wynnchurch and management and the tools and resources they bring to significantly grow our business as we take it to the next level.” Dave Merrick, co-owner of Buchanan, added, “This combination is not only a strong strategic fit with complementary products, geographies, and end-markets, but also an excellent cultural fit with our shared dedication to customer service and our employees. This is an exciting time for our business.” About Buchanan: Founded in 1986 and based in Toronto, Canada, Buchanan is a leading distributor of industrial hoses, couplings, and sheet rubber with approximately 8,000 SKUs. The company distributes products to a variety of end-markets including petrochemical/energy, construction, mining, water handling/agriculture, food & beverage, and general industrial. For more information, please visit: www.buchananrubber.com About Midland: Founded in 1980 and based in Kansas City, MO, Midland is a distributor with over 13,000 SKUs comprising valves, fittings and related products. The company distributes to general industrial, hose, fluid power, plumbing, oil and gas, agriculture, water, truck and trailer, power transmission, and other end-markets. For more information, please visit: www.midlandindustries.com About Anderson: Founded in 1947 and based in Kansas City, MO, Anderson is a distributor and manufacturer with over 12,000 SKUs comprising valves, fittings, pipe nipples, and related products. The company distributes to plumbing, hardware, industrial, and other end-markets. For more information, please visit: www.andersonmetals.com About Wynnchurch Capital: Wynnchurch Capital, LLC, 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 $2.2 billion of committed capital under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings. For more information, please visit: www.wynnchurch.com |