Wynnchurch Capital Acquires Appvion’s Thermal Coating Business

ROSEMONT, Ill.--(BUSINESS WIRE)--Wynnchurch Capital, L.P. (“Wynnchurch”), a leading middle market private equity firm, announced today that it has acquired the thermal coating business assets of Appvion Holding Corp. and its subsidiaries (“Appvion” or the “Company”). Founded in 1907 and headquartered in Appleton, Wisconsin, Appvion is a leading provider of specialty and high-performance direct thermal coatings for label and film solutions as well as renewable, fiber-based consumer and industrial packaging solutions.

“Since our inception, we have built strong and long-lasting relationships with our customers by offering premium and innovative products, technical expertise and unparalleled service. Wynnchurch shares our values of safety, integrity, honesty and putting the customers first to deliver value. We are excited to partner with them to pursue our next phase of growth,” said George Wurtz, CEO of Appvion.

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’ve been impressed with the people and culture at Appvion and look forward to partnering with them to make significant investments to drive growth.”

Kevin Hanley, Vice President at Wynnchurch, added, “The business is well positioned to benefit from strong market tailwinds in labels and packaging, and we look forward to partnering with management to continue to pursue attractive growth opportunities.”

Wynnchurch is actively seeking investment opportunities for its $2.277 billion Fund V. In November, Wynnchurch acquired Owen, a leading provider of critical infrastructure equipment, aftermarket parts and services. Other recent Wynnchurch investments include: Trimlite, a leading manufacturer and distributor of residential doors and related door products; Northern Wholesale Supply, a leading provider of RV and marine parts and accessories; The Wheel Group, a leading designer and distributor of branded aftermarket wheels, specialty tires, and related accessories; and Labrie Environmental Group. a leading manufacturer of refuse collection vehicles across North America.

About Appvion:

Based in Appleton, Wisconsin, Appvion is a pioneer in the specialty and high-performance coatings market. Appvion develops innovative, water-based, and environmentally responsible coating solutions for consumers' everyday life. Appvion's functional coating solutions are applied to a wide variety of flexible substrates, including products from an FDA-compliant facility. Primary product offerings include direct thermal paper and film solutions and renewable, fiber-based consumer and industrial packaging solutions. For more information, please visit: http://www.appvion.com/.

About Wynnchurch Capital:

Wynnchurch Capital, L.P., headquartered in the Chicago suburb of Rosemont, Illinois, with offices in California, New York, and an affiliate in 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 $4.2 billion of committed capital under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings. For more information, please visit: https://www.wynnchurch.com.