SunSource Holdings, Inc. Acquires Warden Fluid Dynamics
Code Hennessy & Simmons LLC (“CHS”) announced that SunSource Holdings, Inc. (“SunSource”) has acquired George W. Warden Co., Inc. (dba Warden Fluid Dynamics or “Warden”), a distributor of fluid power products and systems headquartered in Seattle, Washington. SunSource is a portfolio investment of CHS Private Equity V LP, a $1.3 billion investment fund formed in 2005.
Founded in 1950, Warden is a leading engineered distributor of pneumatic, hydraulic, motion control and related fluid power technologies with five locations in the Pacific Northwest. Warden serves various industries including packaging, semiconductor, food processing, forest products and life sciences, as well as provides value-added services for original equipment manufacturers. For additional information about Warden, please refer to the company’s website at www.wfdonline.com.
Ranse Holcomb, President of Warden, said, “With our combined capabilities, SunSource and Warden can support our customers’ growing need for a technologically focused supplier. This is a significant advantage in a market where customers are becoming reliant on outsourced technical fluid power capabilities.”
SunSource is the largest independent distributor of fluid power products and systems in the United States. Through 34 locations nationwide, SunSource serves 17,000 customers by offering 100,000 unique hydraulic, pneumatic, motion control and filtration products manufactured by over 300 leading vendors. SunSource also provides complementary value-added services including the engineering and design of fluid power systems for original equipment manufacturers, assembly and repair services and technical training. For additional information about SunSource, please refer to the company’s website at www.sun-source.com.
Justin Jacobi, President and CEO of SunSource, said, “The addition of Warden to the SunSource team is a significant milestone in our expansion into the industrial and mobile markets of the northwestern United States. Together, we will continue to deliver high quality products, systems and services.”
CHS is a Chicago-based private equity firm specializing in private equity investments and recapitalizations of middle market companies in partnership with management. CHS has formed five private equity funds and currently manages over $2.5 billion of capital. For additional information about CHS, please refer to the firm’s website at www.chsonline.com.