Wynnchurch closes Fund III on $603m

The Chicago-based mid-market firm has more than doubled its capital under management with its third fund, which closed roughly $100m over target.

Wynnchurch Capital has held a final close for its third fund on $603 million, exceeding its $500 million target.

The Chicago-based mid-market firm focuses on industries such as niche manufacturing, distribution, energy, transportation and logistics and business and industrial services. Wynnchurch invests in buyouts, recapitalisations, corporate carve-outs, restructurings, turnarounds and growth capital situations. With the closing of Fund III, Wynnchurch manages $1.1 billion of capital.

Credit Suisse acted as placement agent for the fund. A Wynnchurch spokesperson was not available at press time.

Wynnchurch’s previous fund closed in 2006 on $350 million, surpassing its $300 million target. The firm’s inaugural fund collected $163 million in 2000.

Wynnchurch was founded in 1999 when GE Capital veterans Hatherly and John Tomes teamed with Canadian investor Richard Renault to launch the firm.

Wynnchurch’s 16-member team has made more than 200 investments in middle-market companies to date, in businesses including traffic-safety company Highway Technologies and telecommunications company Connection Concepts.