Chicago firm invests in Canadian industrials

Wynnchurch Capital has acquired a majority interest in Alberta, Canada-based Surepoint Group.

Middle-market private equity firm Wynnchurch Capital has acquired a majority stake in Canadian company The Surepoint Group for an undisclosed amount. Financing for the deal was provided by Scotiabank.

The Alberta, Canada-based company provides industrial instrumentation and electrical services across a wide range of industries. Surepoint’s integrated service model is made up of seven distinct but interrelated companies.

This is the seventh investment from Wynnchurch’s second fund which closed on $350 million (€223 million) in February 2006, $50 million over its target. Wynnchurch turned away approximately $250 million from the oversubscribed fund, according to the firm.

The fund’s previous investment was the acquisition of Detroit vehicle sealing system company Metzler Automotive Profile Systems’ North American operations in September 2007.

Wynnchurch’s 2000-vintage first fund closed on $163 million following the firm’s launch in 1999 by GE Capital veterans John Hatherly and John Tomes and Canadian investor Richard Renault

The firm has more than $500 million in capital under management and maintains secondary offices in Detroit, Michigan and Montreal.