Private equity firm Wynnchurch Capital acquires Huntington Foam
Greer, S.C.-based Huntington Foam will be combined with EPS product maker Drew Foam Companies, which is also owned by Wynnchurch.
Private equity company Wynnchurch Capital LP has acquired Huntington Foam LLC – a manufacturer of expanded polystyrene (EPS); high and low-density expanded polypropylene; and arcel, a polyethylene and EPS copolymer – and will combine it with Drew Foam Companies Inc., another Wynnchurch portfolio company.
The financial terms of the deal have not been disclosed.
“Huntington is highly regarded across the industry as a market leader in providing custom foam fabricating solutions to a wide range of end markets,” Frank Hayes, managing partner at Wynnchurch, said in a Dec. 29 news release. “The partnership between Huntington and Drew will drive significant benefits for their respective customer bases.”
Founded in 1992 and headquartered in Greer, S.C., Huntington makes products for the appliance, cold chain, automotive, and building products end markets from its seven manufacturing facilities in the U.S. and Mexico.
Drew Foam was purchased by Wynnchurch in November 2020. Founded in 1965 and headquartered in Monticello, Arkansas, Drew manufactures custom EPS block and shape molding products in the Southeast U.S.
In its Dec. 29 news release, Rosemont, Ill.-based Wynnchurch said it is actively looking for acquisition opportunities. The company also owns Mississauga, Ont.-based HDPE pipe maker Infra Pipe Solutions Ltd. – formerly Uponor Infra Ltd. – which it acquired in September 2018.