Wynnchurch Exits Premier Forge Group After Seven-Year Hold
Event summary
- Wynnchurch Capital sold Premier Forge Group (PFG) to H.I.G. Capital after acquiring it as a carve-out from Allegheny Technologies in June 2019.
- During Wynnchurch’s ownership, PFG expanded its aerospace and defense exposure and strengthened its position as a supplier of mission-critical forged components.
- Wynnchurch invested in operational improvements, capital projects, and management team changes to enhance PFG’s capabilities.
- PFG operates facilities in Portland (Indiana), Lebanon (Kentucky), and Azusa (California).
The big picture
Wynnchurch’s exit from Premier Forge Group reflects the ongoing consolidation in the aerospace and defense supply chain, where private equity firms are increasingly targeting niche manufacturers. The deal underscores the strategic value of specialized forging capabilities amid rising demand for mission-critical components. With $9.1 billion in assets under management, Wynnchurch continues to focus on middle-market investments, particularly in industrial sectors.
What we're watching
- Aerospace Demand
- How sustained aerospace and defense spending will impact PFG’s growth under new ownership.
- Operational Execution
- Whether H.I.G. Capital can maintain the operational improvements implemented during Wynnchurch’s tenure.
- Industry Consolidation
- The pace at which private equity firms continue to target aerospace and defense suppliers for carve-outs.