Oak Hill Capital, a New York-based middle-market private equity firm, has agreed to acquire a controlling stake in Technimark Holdings LLC through Oak Hill’s fifth institutional fund, forming a partnership with current investors, Pritzker Private Capital and the Technimark management team.
Technimark is a designer and manufacturer of custom, highly-engineered injection molded components, which it sells to a group of global healthcare, consumer and specialty industrial customers.
“We have a great deal of respect for what Technimark has accomplished, including its strong track-record of delivering industry leading quality and service to its customers,” said Brian Cherry, managing partner at Oak Hill. “We are delighted to partner with Technimark’s world class management team.”
“Technimark is a fantastic business with industry-leading engineering and innovation capabilities and a very impressive list of global customers,” said John Rachwalski, a partner at Oak Hill. “Thanks to strong leadership and smart, well-executed investments, Technimark is distinctively positioned to capitalize on the trends in its core target markets. We look forward to supporting the Company’s exciting growth agenda over the course of our partnership.”
The management team of Technimark, led by CEO Brad Wellington, will continue to lead the Company and retain a meaningful ownership stake.
“Oak Hill is a firm that shares our collaborative culture and our growth vision for the business. We look forward to a successful partnership as we continue investing in Technimark’s manufacturing and innovation capabilities to drive best-in-class results for our customers,” said Wellington.
The transaction represents the ninth investment in the Oak Hill Capital Partners V portfolio.
William Blair & Co. served as financial advisor to Oak Hill on the transaction and Goldman Sachs & Co. and Wells Fargo Securities LLC acted as financial advisor to Technimark. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor to Oak Hill and Kirkland & Ellis LLP is serving as legal counsel to Technimark and PPC.
For more on family office investing in general and Pritzker Private Capital particular, see our recent cover story, Family Offices, Independent Sponsors Get Creative in Chasing Deals.