Thursday, February 16, 2012 – Chicago, IL and Chesterfield, MI
Wynnchurch Capital, Ltd. (“Wynnchurch”), a leading middle-market private equity firm announced today that its newly formed portfolio company, Burtek Enterprises, Inc. (“Burtek,” or the “Company”), has acquired substantially all of the assets of Burtek, Inc. in partnership with Stone River Capital Partners and management. Based in Chesterfield, MI, Burtek is a leading North American designer, manufacturer, tester and integrator of systems for military vehicles, radar installations and other defense systems. Prior to the acquisition by Wynnchurch, Burtek was a wholly-owned subsidiary of Guardlink, Inc., and was placed in receivership on October 11, 2011. The sale was approved on Tuesday, January, 31, 2012 by a U.S. Federal Court and closed on Thursday, February 2, 2012.
“Through the hard work of our employees, and the commitment of our customers and suppliers, we have successfully managed the business through the sale process,” said Jeff Daniel, CEO of Burtek. “With the implementation of several strategic initiatives, combined with the support of Wynnchurch, we are emerging from the sale stronger and healthier than ever, and we are very optimistic about what the future holds.”
Terry Theodore, a Partner of Wynnchurch, added, “We are confident in the management team’s ability to grow the business and thrilled to support job growth in Michigan with this transaction. We believe Burtek is exceptionally well-positioned to serve its customers, and we are excited about the opportunities that lie ahead for the company. We look forward to supporting Burtek now that it has emerged from receivership, and we are eager to invest in the future growth of the business.”
Guy Boitos, a Principal at Stone River Capital Partners commented, “The management and employees of Burtek have demonstrated an excellent track record in sales growth, product quality, and product innovation. We look forward to working with the team to expand the scope of Burtek products and services while continuing to provide exceptional customer service.”
About Burtek Enterprises, Inc.: Based in Chesterfield, MI, Burtek is a leading North American designer, manufacturer, tester and integrator of systems for mobile military ground vehicles and other systems. Since 1987, Burtek has been dedicated to supplying the defense industry with innovative mission critical systems. More information about Burtek can be found at: www.burtekenterprises.com.
About Wynnchurch Capital, Ltd.: Wynnchurch Capital, Ltd., headquartered in the Chicago suburb of Rosemont, Illinois with offices in Dallas, Detroit, and Toronto and an affiliate office in Montreal, 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 which have outstanding management teams and possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with capital under management in excess of $1 billion specializing in management buyouts, recapitalizations, corporate carve-outs, restructurings and growth capital. More information about Wynnchurch Capital can be found at: www.wynnchurch.com.
About Stone River Capital Partners: Stone River Capital Partners is a private investment firm based in Birmingham, Michigan that focuses on acquisitions of privately owned, high quality businesses. We customize transactions to meet the goals of all parties, and we pride ourselves on being supportive partners to management teams. With extensive backgrounds in management, finance and operations, SRCP seeks to combine our skills with our partner companies to help facilitate their growth. More information about Stone River Capital Partners can be found at: www.stonerivercap.com.
Comments are closed.