Private equity firm Wynnchurch Capital Ltd said it intended to sell two of its automotive industry suppliers as well as a mineral firm in Canada soon. Managing Partner John Hatherly did not name the automotive companies it would be selling in his interview with Crain's Chicago Business, a business website.
However, information gleaned by Crain's from Wynnchurch Capital's website revealed that the private equity firm only owned one mineral company, NSC Minerals Ltd, which is based in Saskatoon, Saskatchewan. Wynnchurch also holds four automotive parts firms. These are Humanetics Innovative Solutions Inc and Android Industries, both located in Michigan, Fabco Automotive Corp in California and Detroit-based JAC Products Inc.
Hatherly told Crain's that it was a good time to sell as private equity firms had more access to credit. Prices had also increased and more buyers had become interested to make acquisitions. He says, "It's a great time to be a seller." Wynnchurch has USD 1.1 billion assets under management.
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