Great opportunities begin with great partnerships

Our Approach

We see value where others don't

A business is far more than its financial statements. It is people with families and futures and, so often, untapped potential. As the investment arm of multi-billion dollar global manufacturing and engineering consulting firm Barry-Wehmiller, BW Forsyth Partners blends Barry-Wehmiller’s unparalleled legacy of value creation and people-centric culture development with keen private equity investing experience to help companies realize their true potential.

Since 2009 we have completed 40 acquisitions and currently operate four companies in the capital and component equipment and insurance services sectors. In each business, we deployed operational improvements and strategy development without compromising the autonomy, strategic vision and entrepreneurial spirit of their leadership teams. With every company we acquire, our goal is to buy, build and keep on building, alongside the talented people who make the business possible. Because companies don’t create value; people do.

We are patient investors who are deeply committed to long-term value creation, the implementation of sustainable business strategies, and continued investment in and development of people and culture.  Our goal is to successfully operate our companies indefinitely.

Our balance of private equity investing experience and the deep operational expertise and people-centric culture provided by Barry-Wehmiller uniquely positions us to help our companies and team members to thrive.

We take an active, hands-on approach to partnering with our companies, acting as a resource to the leadership teams in the development and implementation of their strategies for growth, value creation and the development of a sustainable, people-centric business model.

Our long-term orientation and prudent use of leverage enable us to maintain operational flexibility for our companies throughout the economic cycle. We are free from the traps of short-term decision making and financial engineering to drive returns.

We are trying to put the ‘humanity’ back in investing and prove that we can build companies that sustain decades and represent a source of pride and fulfillment for the people that work in them.

Kyle Chapman, President, Barry-Wehmiller

Our Team

We're passionate about creating lasting positive impact

When you partner with us, you’ll get our investment acumen and Barry-Wehmiller’s deep expertise in building sustainable, people-centric businesses. Plus you’ll feel our trademark culture of caring, collaboration and continuous improvement.

We wanted to transition ownership to someone who would build on the legacy that we’ve created and maintain an unparalleled focus on the Eberl employees along with our adjusters and clients. We are really excited to partner with the Engle Martin and BW Forsyth Partners teams.

Kirk Eberl, Eberl Founder

Our Focus

We target sectors where we know we can add value

Not every deal is the right fit for us. But when we see that our know-how and experience can help companies and their people thrive, we can’t wait to get started.

Within our target industries, we look for partnership opportunities that allow us to leverage the collective resources of our investment professionals, as well as the Barry-Wehmiller team, to create long-term value in our companies. In addition to key, company-specific initiatives, we focus on:

  • Development and implementation of sound business strategies
  • Focus on people-centric leadership initiatives
  • Operational improvements
  • Aggressive yet disciplined acquisition growth.

  • Capital Equipment

    Our capital equipment companies, Machine Solutions (MSI) and Afinitas benefit from Barry- Wehmiller’s vast knowledge and experience gained in our sole capital provider’s 130+ year history of designing, manufacturing, and delivering highly engineered equipment around the globe. 

    We are always on the lookout for add-on acquisitions for MSI and Afinitas, as well as new platforms, with a specific interest in companies that manufacture:

    • Food Processing Equipment
    • Water Treatment Equipment
    • Life Science Consumables
    • Flow Control Equipment
    • Air Purification Equipment
    • This list is non exhaustive**

  • Highly Engineered Components

    We get to see firsthand how mission-critical component manufacturers are driving innovation through the lens of our platform companies. Our vision is to leverage generations of manufacturing expertise with our unique operational playbook to assemble a world-class components platform. We continue to seek new platform opportunities that manufacture highly engineered components for medical and industrial products.

  • Professional Services

    Cor Partners (Cor), our insurance services company has more than 12x’d in revenue under the stewardship we provided in partnership with the leadership team. We understand the complexities business owners face when choosing their vendors and we aim to provide the same level of service we expect when choosing our service providers.

    As we continue to build Cor through add-on acquisitions, we’re also focused on building new professional services platforms, with a specific focus on companies that focus on:

    • Civil/Structural Engineering Services
    • Lab Testing Services
    • Dispute Resolution Services
    • This list is non exhaustive**

Investment Criteria

Financial

  • Revenue: up to $250M
  • EBITDA: between $1-20M (no minimum for add-ons)
  • Enterprise value: up to $200M

Geography

  • North America
  • Europe

Transaction Types

  • Founder and family-owned businesses in transition
  • Management buyouts
  • Corporate divestiture / carve-outs
  • Public to private
  • Distressed or turnaround situations
Joining the Forsyth Team continues to prove itself the right decision. Whether we have looked for support in our sales expansion, supply chain reviews, continuous improvement goals, or operations; Forsyth has brought shared ideas and synergies to the table.

Sean Hargett, President & Former Owner

Our Operating Companies

We win only when they win

Our truest measure of success is the fulfillment of the team members inside these businesses.  And that comes from being part of a vibrant business where they feel valued and cared for.  We encourage you to ask them about us - we're proud of what we've accomplished together!

BW Forsyth Partners is showing that a more humanistic and holistic approach can generate returns equal to or even greater than those produced by traditional private equity, without using excessive leverage, market timing, mass layoffs, and other typical financial buyer tactics. It is an approach of building value, not extracting it.

Bob Chapman, Barry-Wehmiller Chairman and CEO

Our Parent Company

Creating value is in our DNA

For more than 30 years, Barry-Wehmiller has tested, refined and improved its successful value creation and culture transformation process on every one of more than 115 businesses they’ve acquired. During that time frame, the company grew from a $20 million business into the diverse $3+ billion global leader it is today. Along the way they figured out the keys to long-term value creation: meaningful work, caring cultures, and the chance to collaborate to achieve something great.

Barry-Wehmiller At-A-Glance

  • Global supplier of manufacturing technology and engineering consulting for the packaging, corrugating, sheeting, and paper-converting industries, with a private investment arm targeting the capital and component equipment and insurance services sectors
    • 12,000+ team members
    • 100+ locations worldwide
    • 28 countries
  • Founded in 1885 in St. Louis, MO
  • Bob Chapman, CEO
  • People-centric culture empowers team members
  • A rich blend of the legacies and capabilities of more than 115 companies
  • Guiding Principle: We measure success by the way we touch the lives of people.
  • 16% compound revenue growth since 1987
I truly enjoy sharing the Barry-Wehmiller story with business owners who are seeking an ownership transition and working with them to develop a shared vision for the future of their people and organization, should they choose to become part of our amazing company.

Casey Sears, Director of Corporate Development

News

Forsyth Capital Investors launches $100 million first fund

Feb 8, 2017, 23:02 by David McElroy

ST. LOUIS — January 23, 2009 — Forsyth Capital Investors LLC, a St. Louis‐based investment firm, announced today the startup of its $100 million fund. Forsyth Capital Investors, which has been formed to invest in small‐ to middle‐market private companies in the U.S., is led by Chet Walker, founder of Banc of America Capital Investors, which invested approximately $1.5 billion in more than 100 companies during his 10‐year tenure, and Kyle Chapman, a private equity executive with both investing and operating experience.

In addition to providing private equity expertise, Forsyth Capital Investors has formed a strategic partnership with Barry‐Wehmiller Companies, Inc. (www.barry‐wehmiller.com), a global supplier of engineering consulting and manufacturing technology solutions, to leverage its operating experience for the benefit of the portfolio companies of Forsyth Capital Investors.

“Forsyth Capital Investors will employ a unique ‘hybrid’ approach to investing that blends the best of private equity practices with the deep operational expertise of Barry‐Wehmiller to strengthen the value proposition of an investment by our firm,” explained Chet Walker, co‐founder and Senior Managing Director of Forsyth Capital Investors. “This combination should enable us to more effectively drive value to our portfolio companies through active strategy development and operational improvements, while relying less on financial leverage to generate returns.”

“We are excited to be able to bring more to the table than just financial engineering,” said Kyle Chapman, co‐founder and Managing Director of Forsyth Capital Investors. “Our goal will be to enhance the value of our portfolio companies by utilizing the strategic resources offered by Barry‐Wehmiller — whether it is cost savings through combined purchasing, people‐centric motivational programs or ‘turnaround’ capabilities — while, at the same time, not compromising the entrepreneurial culture and autonomy of the leadership teams as separate portfolio companies of Forsyth Capital Investors.”

Robert Chapman, Chairman and CEO of Barry‐Wehmiller Companies, Inc., said, “We believe that aspects of our operational skill sets, the leadership culture, and the people‐centric focus that we have developed over the past 35 years are transferable to other industries and other companies outside of Barry‐Wehmiller’s core focus areas of equipment manufacturing and consulting services. Our partnership with Forsyth Capital Investors will allow us to explore potential new applications of our business model and leadership practices, while also providing Barry‐Wehmiller’s shareholders with further diversification and another growth engine for share value enhancement.”

Forsyth Capital Investors will focus on investing in small‐ to middle‐market companies that have EBITDA in the range of $5 million to $10 million, and will be making equity investments of $10 million to $30 million for majority ownership positions. For more information on Forsyth Capital Investors, please visit the website: www.forsythcapital.com. 

Forsyth’s approach truly resonated with the AMS team, given its long-term investment orientation, deep operational expertise and dedicated focus on building businesses both organically and through acquisitions.

Steve Metcalf, AMS SPECTRAL UV President

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