Minneapolis, MN, November 2013 – Spell Capital announced the sale of the Minnesota-based operations of Spectrum Plastics Group to Pexco, an affiliate of Odyssey Investment Partners, LLC.
The Minnesota-based operations provide precision injected molding services to customers principally in the medical and surgical, defense and aerospace markets. The Minnesota operation employs approximately 160 people within a 105,000 square foot facility. The existing plant leadership will continue with the business.
Spell Capital Funds will continue to own the 66,000 square foot facility of Spectrum located in Ansonia, CT under the new name NPI/
Medical. The facility employs 85 associates serving principally injection molding customers in medical markets.
About Spell Capital Partners
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 business in which we invest – both internally and through add-on acquisitions.
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 Jim Rikkers, Senior Managing Director, at [email protected].