Chicago, Illinois ? Wynnchurch Capital, a Chicago-based private equity firm, announced it has acquired the North American operations of Metzeler Automotive Profile Systems (â€œMAPSâ€). Metzeler marks the sixth platform investment for Wynnchurch's second fund, Wynnchurch Capital Partners II, L.P. Financing was provided by Bank of America. Terms of the transaction were not disclosed.
Headquartered in Detroit with operating facilities located throughout the United States, Canada and Mexico, Metzeler is a leading designer and manufacturer of a complete line of highly-engineered vehicle sealing systems for doors, windows, trunks, lift gates, sunroofs and hoods.
This is the latest in a series of divestments by CVC capital partners, the previous owner of MAPS' global operations. In June CVC announced the sale to Cooper-Standard of MAPS operations in Germany, Italy, Poland, Belgium and China for an estimated €100 million. Later that month a group of managers said they had acquired a single plant in France in a management buyout.
Wynnchurch Capital is headquartered in the Chicago suburb of Rosemont, Illinois with offices in Detroit and Montreal. The company says it 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 which have outstanding management teams and possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with capital under management in excess of $500 million specializing in management buyouts, recapitalizations, corporate carve-outs, restructurings and growth capital investments.