Wynnchurch Capital has bought hydraulics manufacturer Texas Hydraulics from Dover Corp. (NYSE: DOV) for an undisclosed amount.
Texas Hydraulics, headquartered in Temple, Texas, and founded in 1968, produces hydraulic cylinders that are used mostly in construction and industrial equipment.
“Wynnchurch has extensive experience helping manufacturing companies reach their full potential through growth and operational excellence,” says Texas Hydraulics CEO Pat Gerard.
Earlier in 2016, Wynnchurch formed Wynnchurch Industries LLC to seek deals in the industrials market. Wynnchurch Industries will focus on "material manufacturers that serve industrial markets" that have "niche market leadership, proprietary competitive advantages, strong barriers to entry, stable core cash flows, and high margins." For more on Wynnchurch, see Wynnchurch Leveraged Housing Recovery to Expand Portfolio in 2015.
Lazard advised Dover.