Wynnchurch Capital, a private equity firm based in Chicago, has acquired a majority interest in Webex Inc., a provider of precision rolls for the web handling and converting industries based in Neenah, WI, USA.
Webex has engineered and manufactured a variety of rolls and custom converting machinery since 1972 for machinery OEMs and converting companies throughout North America. Wynnchurch Capital, founded in 1999, manages more than $500 million in private equity fund capital and has investment experience in manufacturing, business services, logistics, and value-added distribution. The new ownership is expected to help fuel Webex’s expanding product development and customer service initiatives while allowing the firm to remain autonomous in daily management and operations.
“Webex has a long history of growth and is one of the strongest brands in the web handling industry,” says Chip Grace, managing director of Wynnchurch. “As a market leader known for ‘best-in-class’ application engineering expertise, quick-turn delivery and flexible manufacturing, it delivers a significant value proposition for its blue-chip customer base.”
Paul Schulz, president of Webex, says, “The entire Webex management team is looking forward to our new partnership with Wynnchurch. There are a number of significant growth initiatives in front of our company, and with Wynnchurch’s support we’ll be able to take full advantage of them.”