Wynnchurch Acquires Pro Fab
New owners team up with Pro Fab’s management to expand
July 29, 2010
Chicago-based private equity firm Wynnchurch Capital agreed to acquire modular home distributor and manufacturer, Pro Fab. Deal terms were not disclosed.
Pro-Fab’s senior management will still hold a minority stake in the company, post close. The Wynnchurch investment in the Quebec-based company is aimed at bolstering its expansion efforts.
The modular home sector seems to be opening its doors to private equity investors. Earlier this year HIG Capital acquired modular home manufacturer, Excel Homes. Last August, meanwhile Cavco Industries, with backing from Third Avenue Fund, acquired certain assets from housing manufacturer Fleetwood Enterprises.
Wynnchurch, founded in 1999, manages more than $800 million in assets, and is active in both the US and Canada, as the Pro Fab deal highlights.
Equity investments usually range from $5 million to $75 million. The firm has stayed active in recent years, acquiring power-fastening systems company Senco Brands out of bankruptcy and backing auto parts business Vista-Pro Automotive.
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