- posted in News
Minneapolis, MN, August 2013 – Spell Capital Mezzanine (“Spell”) is pleased to announce a $2.5 million subordinated debt investment in Fiberstar, Inc. (“Fiberstar” or the “Company”). Proceeds will be used to fund the purchase of equipment that will increase the Company’s production capacity.
Fiberstar is a global leader in the manufacture and marketing of innovative bio-ingredients from plant cell wall materials. The Company serves food, pet food and cosmetics customers in more than 50 countries around the globe. Fiberstar’s award-winning Citri-Fi® ingredient is used by global food manufacturers to improve the quality, clean labeling and cost of the products into which it is incorporated. Fiberstar is headquartered in River Falls, Wisconsin and has a production facility in Clewiston, Florida.
“We were impressed with the Spell team’s attentiveness and dedication to a thorough and timely due diligence process. We are excited to partner with Spell to continue to execute our growth strategy,” stated Dale Lindquist, president, chief executive officer and board member of Fiberstar.
“Spell is pleased to partner with Fiberstar to support the Company’s growth initiatives. Fiberstar’s global reputation for providing high quality, healthy and all natural ingredients sold into numerous attractive end markets positions the Company extremely well for continued success,” said Mark McDonald, Managing Director at Spell.
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 Mark McDonald, Managing Director firstname.lastname@example.org.