Wynnchurch Capital (Wynnchurch), a middle market private equity firm, has sold Foss Floors (Foss) to Mohawk Industries (Mohawk), a producer of floor covering products for residential and commercial applications in North America and residential applications in Europe.
Foss is a specialist in non-woven needle punch floor coverings and specialty flooring products. With an unwavering commitment to environmentally sustainable and American-made manufacturing, the Company’s products are produced in state-of-the-art, computerised production facilities in Rome and Chatsworth, Georgia. Foss uses 100% recycled PET polyester made from post-consumer plastic drinking bottles and is one of the world’s largest needle-punch based manufacturers.
Stifel Investment Banking served as financial advisor and Perkins Coie and McDermott Will & Emery served as legal counsel to Foss and Wynnchurch Capital.
Wynnchurch is actively seeking investment opportunities for its $2.277 billion Fund V. In July, Wynnchurch acquired FCA, a leading manufacturer of customised industrial protective packaging solutions. Other recent Wynnchurch investments include: Mattress Warehouse, a leading independent mattress retailer with over 300 locations. Premier Franchise Management, the largest US residential pool-build and pool-service franchisor; Appvion, a leading provider of specialty and high performance direct thermal coatings; and Owen, a leading provider of critical infrastructure equipment, aftermarket parts and services.
