CHICAGO & MILWAUKEE–(BUSINESS WIRE)–Wynnchurch Capital, a Chicago-based private equity firm, announced it has purchased a majority interest in Webex, Inc. Webex, Inc., headquartered in Neenah, Wisconsin, is a leading designer and manufacturer of precision-engineered rolls and custom web handling machinery for a wide range of web handling and converting applications. Senior debt financing for the transaction was provided by ORIX Finance, as Administrative Agent, Sole Book Runner and Joint Lead Arranger, and CIT Group Inc., as Joint Lead Arranger, while subordinated debt was provided by Audax Mezzanine, who also co-invested equity in the transaction. William Blair & Company acted as advisors to Webex. Additional terms were not disclosed.
Webex, Inc. was founded in 1972. Its primary product lines consist of precision engineered rolls and converting components, in addition to specialized web handling machinery, which are utilized in a variety of markets including consumer products, packaging, films, pharmaceutical, food processing, papermaking and general industrial.
Chip Grace, Managing Director for Wynnchurch Capital stated, “Webex has a long history of growth and is one of the few single source solutions providers in the web handling industry. As a market leader known for ‘best-in-class’ application engineering expertise, quick-turn delivery and flexible manufacturing, it delivers a significant value proposition for its blue-chip customer base.”
“We are thrilled to be partnering with Paul Schulz and Webex,” added Frank Hayes, Partner for Wynnchurch Capital. “The team has built a very attractive business, both organically and through key strategic acquisitions, and is positioned very well for continued success on both fronts.”
Paul Schulz, President of Webex, Inc., added, “The entire Webex management team is looking forward to our new partnership with Wynnchurch. There are a number of significant growth initiatives in front of our company, and with Wynnchurch’s support, we’ll be able to take full advantage of them.”
For more information on Webex, please go to www.webexinc.com.
About Wynnchurch Capital:
Located in the Chicago suburb of Rosemont, Illinois and founded in 1999, Wynnchurch Capital 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. More information on Wynnchurch Capital can be found at www.wynnchurch.com.
