LOS ANGELES
,
January 24, 2022
(Industry Intelligence Inc.)
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Wynnchurch Capital L.P. has acquired Appvion, a producer of direct thermal paper and film solutions and renewable, fiber-based consumer and industrial packaging solutions based in Appleton, Wisconsin. An announcement on Appvion’s website dated Dec. 3, 2021, said Wynnchurch had entered into a definitive agreement to acquire a majority of the assets of Appvion Holding Corp. and its subsidiaries. According to the announcement, the transaction also completed on Dec. 3. Appvion’s President, CEO and Chairman of the Board George Wurtz said Illinois-based Wynnchurch “shares our values of safety, integrity, and honesty and putting the customers first to deliver value. We are excited to partner with them to pursue our next phase of growth.” Wurtz added that the deal would “enable new investments, continued expansion, and additional resources that we collectively need to accelerate growth in our AMS and Packaging & Specialty Coatings businesses.” Appvion set up the Advanced Materials and Solutions (AMS) business division in October 2021; it contains the company's direct thermal and dye sublimation businesses, according to an Oct. 6, 2021, press release. Wynnchurch Capital, headquartered in the Chicago suburb of Rosemont, manages a number of private equity funds with US$4.2 billion of committed capital under management. It specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings, according to the Dec. 3 announcement, which can be read in full here.
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