Minneapolis, MN – March 2012. Spell Capital has announced that it has sold its portfolio company, LAI International, Inc. in a transaction that returned over 7.0 times our investment. Spell acquired LAI in June of 2005 and during the 6½ years of Spell’s ownership, Spell consummated two add on acquisitions and grew the company from $16.0 million in sales to $44.0 million in sales. LAI was the last portfolio company in Spell Capital Partners Fund II LP.
LAI International, Inc. is a leading contract manufacturer of make-complete precision-engineered components and assemblies for aerospace, power generation, defense, medical and other advanced technology industries. The company’s technology, engineering and manufacturing solutions are used to build components for airframes, aircraft engines, power generators, defense systems, medical devices and other industrial applications.
Spell Capital is a private equity firm located in Minneapolis, Minnesota and has been an active investor in the lower middle market for over twenty-four years. We make equity investments ranging from $2.0 to $15.0 million in well-managed, historically profitable industrial manufacturing businesses. We are currently seeking new platform opportunities for Spell Capital Partners Fund IV LP, and add on acquisitions for
our existing portfolio companies.
For more information about this transaction, please contact Bill Spell, President, at bill@spellcapital.com or,
Jim Rikkers, Managing Director, at jim@spellcapital.com.