Principal Industries Joins Forces with Wynnchurch Capital for Strategic Growth
Deal News | Nov 11, 2024 | Wynnchurch Capital
Wynnchurch Capital, a prominent middle-market private equity firm, has announced its acquisition of Principal Industries, a leading provider of LED components and engineered assemblies based in San Angelo, Texas. Partnering with the company's founders, Bryan and Blake Vincent, and the management team, Wynnchurch aims to leverage Principal Industries' market leadership in signage and brand imaging applications. With an extensive product range including LED modules, lighting drivers, and specialty assemblies, Principal Industries has a strong customer base and a history of transformative developments and acquisitions, noted by Todd Fiske, the company's CEO. Wynnchurch's involvement promises to propel the company's growth further, with a strategic focus on expanding market reach and innovation. Wynnchurch Capital, based in Rosemont, Illinois, has a history of successful collaborations with middle-market companies and manages $9.2 billion in assets. Legal advisory for the transaction was provided by Foley & Lardner LLP.
Sectors
- Private Equity
- LED Lighting and Components
- Signage and Branding
Geography
- United States – Principal Industries is headquartered in Texas, and Wynnchurch Capital is based in Illinois.
- Canada – Wynnchurch Capital has an affiliate presence in Canada.
Industry
- Private Equity – Relevant as Wynnchurch Capital is a private equity firm engaging in an acquisition.
- LED Lighting and Components – Principal Industries operates in this sector, providing components for signage and brand imaging.
- Signage and Branding – Principal Industries provides solutions for signage and architectural branding applications.
Financials
- $9.2 billion – Assets under management by Wynnchurch Capital.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Wynnchurch Capital | Private Equity Firm | Company | A middle-market private equity firm based in Illinois, partnering with Principal Industries for growth expansion. |
| Principal Industries | Target Company | Company | A Texas-based provider of LED components and engineered assemblies for signage and branding. |
| Bryan Vincent | Co-Founder | Person | Co-founder of Principal Industries. |
| Blake Vincent | Co-Founder | Person | Co-founder of Principal Industries. |
| Todd Fiske | CEO of Principal Industries | Person | Chief Executive Officer of Principal Industries. |
| Brian Crumbaugh | Partner at Wynnchurch | Person | Partner at Wynnchurch Capital. |
| Carl Howe | Managing Director at Wynnchurch | Person | Managing Director at Wynnchurch Capital. |
| Foley & Lardner LLP | Legal Advisor | Company | Legal advisor to Wynnchurch Capital for the acquisition. |