Chicago private equity firm Wind Point Partners is merging two portfolio companies, Hearthside Food Solutions and Ryt-way Industries, into one food manufacturing business.
The combined companies will have more than $1 billion in sales and 19 manufacturing facilities in seven states.
Both Hearthside and Ryt-way provide contract manufacturing services to food and packaged- goods companies in North America.
Wind Point bought Ryt-way, headquartered in Lakeville, Minn., in August 2008, and Downers Grove, Ill.-based Hearthside in April 2009.
Rich Scalise, Hearthside’s CEO, will be CEO [say chief executive one time to vary word choice] of the combined business.
Wind Point has about $2.5 billion in capital under management. The company is currently investing from a $915 million fund closed in April 2009. Portfolio companies include America’s PowerSports, Petmate and Shearer’s Foods.