Minneapolis, MN – April 2012. Spell Capital has announced that it has sold its portfolio company, Arctic Fox, in a transaction that returned over 4.5 times its investment. Spell acquired Arctic Fox on April 2007 and during the five years of Spell’s ownership, the company grew from $13.7 million in sales with an EBITDA of $2.8 million to $29.7 million in sales with an EBITDA of $8.1 million.
Arctic Fox, based in Delano Minnesota, is a leading global supplier of proprietary fuel and fluid heating products. Including heating systems and related components primarily for original equipment manufacturers in the heavy truck, off-highway equipment, oil and gas, power sports and other industrial markets.
About Spell Capital Private Equity
Spell Capital Private Equity is engaged in the acquisition of controlling interests in well-managed, historically profitable industrial manufacturing businesses. We use our deep expertise in acquisitions and financing to collaborate with management and grow the businesses in which we invest – both internally and through add-on acquisitions.
About Spell Capital Mezzanine
Spell Capital Mezzanine provides subordinated debt and non-control equity to businesses in a variety of industries across the United States. We finance leveraged acquisitions backed by lower middle-market private equity sponsors, management and family driven ownership transitions, add-on acquisitions, recapitalizations and growth initiatives.
For more information about this transaction, please contact Bill Spell, President, at bill@spellcapital.com or, Jim Rikkers, Managing Director, at jim@spellcapital.com.