Appleton-based Appvion purchased by Wynnchurch L.P. of Rosemont, IL.
An Appleton-based specialty paper and packaging manufacturer is under new ownership. Appvion Holding Company entered into an agreement with Wynnchurch Capital L.P., which is based in Rosemont, Illinois. Appvion President and C-E-O George Wurtz says his company is excited with the acquisition by Wynnchurch. Wurtz says it will enable new investments, continued expansion and additional resources for future growth. The deal was completed on December 3, 2021.
The companies issued the following news release Tuesday afternoon:
December 3, 2021
WYNNCHURCH CAPITAL, L.P. TO ACQUIRE APPVION
Wynnchurch Capital, L.P. today entered into a definitive agreement to acquire a majority of the assets of Appvion Holding Corp. and its subsidiaries.
“We are very excited to share that Appvion has a new sponsor. This sponsorship will enable new investments, continued expansion, and additional resources that we collectively need to accelerate growth in our AMS and Packaging & Specialty Coatings businesses. We see this as a terrific opportunity to continue delivering the same great Appvion value our customers expect while remaining fast, flexible, and responsive. 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.” said George Wurtz, Appvion’s President, Chief Executive
Officer & Chairman of the Board.
“We are very excited to partner with George and the Appvion leadership team to continue to deliver superior products and services to their customers as well as accelerating their future growth plans in AMS and Packaging.” said Greg Gleason, Managing Partner at Wynnchurch Capital Partners L.P. Wynnchurch Capital manages a number of private equity funds with $4.2 billion of committed capital under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings. They focus on leveraging a business’s strengths and identifying new market opportunities to support management’s vision—with an unwavering commitment to sound business judgment, partnership, communication, and integrity.
The deal was completed on December 3, 2021.
About Wynnchurch Capital, L.P.
Wynnchurch Capital, L.P., headquartered in the Chicago suburb of Rosemont, Illinois, with an office in California, New York and an affiliate in Canada, was founded in 1999, and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantianal growth and profit improvement.
About Appvion
Appvion was founded in 1907 and is a pioneer in the specialty and high-performance coatings business. Headquartered in Appleton, Wisconsin, Appvion develops innovative, water-based, and environmentally responsible coating solutions for consumers’ everyday life. Appvion’s functional coating solutions are applied to a wide variety of flexible substrates, including products from an FDA-compliant facility. Primary product offerings include direct thermal paper and film solutions and renewable, fiber-based consumer and industrial packaging solutions. As a leading manufacturer in North America, you can count on Appvion to tackle your customers’ biggest challenges. Connect with us on Twitter and LinkedIn to learn more. 825 East Wisconsin Avenue P.O. Box 359 Appleton, WI 54912-0359 920-734-9841 appvion.com
