Wynnchurch Capital acquires Handgards to expand in foodservice products distribution
Wynnchurch Capital, L.P. (Wynnchurch), a prominent private equity firm, has officially acquired Handgards, LLC from Wind Point Partners. This acquisition, in partnership with the management of Handgards, underscores Wynnchurch’s strategic intent to deepen its footprint in the foodservice distribution sector. Handgards, known for its leadership in distributing a wide array of foodservice products including disposable gloves, reclosable bags, and other essential items, stands as a significant addition to Wynnchurch’s expanding portfolio.
Handgards’ CEO, Joe Kubicek, expressed enthusiasm about the new partnership: “From our first meeting with Wynnchurch, I knew we had found a fantastic partner for our next chapter of growth. Wynnchurch brings significant commercial and operational expertise in distribution and has substantial resources to support Handgards’ growth plans. Importantly, they also share our core values of providing best-in-class service and quality products to our customers.”
The acquisition is not just a change in ownership but a strategic alignment to propel Handgards into new heights of market expansion and operational excellence. Greg Gleason, Managing Partner at Wynnchurch, highlighted the company’s robust track record and diversified service offerings as key attributes that align with Wynnchurch’s investment philosophy. Carl Howe, Principal at Wynnchurch, also noted the company’s established reputation and the strategic plan to expand further through acquisitions and exploring new growth avenues.
The legalities of the transaction were overseen by Foley & Lardner LLP, with financial advisory services provided by Houlihan Lokey, ensuring a smooth transition and solid foundation for the next stages of growth.
The acquisition of Handgards is part of Wynnchurch’s broader strategy to invest in and grow its portfolio companies. Wynnchurch manages $9.2 billion of regulatory assets and continues to seek further investments. Recent acquisitions include Trimlite, FloWorks, Industrial Service Solutions, and FCA, each aligning with Wynnchurch’s philosophy of enhancing value through strategic growth and operational improvements.
Handgards, with its extensive operations across eight facilities and an annual shipment of over 18 million cases of products, represents a vital component of this strategy. The company’s recent acquisitions of Fineline Settings and Emi Yoshi also demonstrate its capability and success in integrating and expanding its service offerings within the foodservice industry.
This acquisition by Wynnchurch Capital not only enhances its portfolio but significantly positions Handgards for a trajectory of accelerated growth and innovation in the foodservice sector. By leveraging Wynnchurch’s resources and strategic guidance, Handgards is well-poised to expand its market reach and enhance its operational efficiencies, setting a new standard in the distribution of foodservice products.