Done Deals: Wind Point Buys Outsource Partners –

Wind Point Partners, a Midwest private equity firm, in December acquired a majority stake in Outsource Partners Inc., a company which provides security and janitorial services to businesses.

The firm arranged more than $170 million in equity and debt financing and committed an additional $45 million to support continued acquisition growth.

“The company is at an exciting point in its history and right now they’ve got some good momentum in their building maintenance business,” said James TenBroek, managing director at Wind Point. “The next couple of years should see some growth for them and we’re just providing the capital for growth,” TenBroek said.

The founders of Outsource, based in Atlanta, will remain in their positions and retain an equity stake in the company, which has annual revenue of $260 million.

Wind Point is currently raising its fourth fund with a target of $350 million, and to date has closed on $320 million. “We are hoping to end up with $350 million to $400 million,” said Bob Cummings, a managing director at the firm. The fund raising started in the latter part of last summer. Wind Point made its first investment in WorldWide Sports & Recreation last summer.

Founded in 1983, Wind Point Partners invests in a variety of industries including industrial manufacturing, business-to-business services, information technology services and specialty retail and consumer products.