Wynnchurch Capital seals debut deal from new $2.27bn fund with Labrie buyout

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Wynnchurch Capital has bought refuse collection vehicle and parts specialist Labrie Environmental Group as the debut deal from its new $2.27bn fund.

The firm raced to a final close for its fifth flagship fund in April, with the vehicle coming init almost 50 per cent larger than the firm’s initial $1.6bn target for the vehicle.

Canada-headquartered Labrie, which was founded in 1971, provides a fleet of side loader, front loader, and rear loader vehicles that it sells through a network of dealers.

John Hatherly, managing partner at Wynnchurch, said, “Wynnchurch is pleased to make Labrie our first platform investment in Fund V.

“The business fits our investment philosophy of acquiring well-managed market leaders with significant growth potential.”

Wynnchurch partner Greg Gleason added, “Labrie has a well-earned reputation in the waste management industry for its high-quality products, strong engineering expertise and service. We are excited to partner with management to focus on its next stage of growth.”

Chicago-based Wynnchurch previously gathered $1.3bn for its fourth fund in 2014.

The firm invests across sectors including aerospace, defense and government, building products and materials, consumer and food, energy, natural resources, manufacturing, transport and business services.

Recent deals from the firm include buying Clyde Industries, a designer and manufacturer of sootblowers, a critical component within recovery, power, and steam boilers.

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