- posted in News
Minneapolis, MN, October 2015 – Spell Capital Mezzanine (“Spell”) is pleased to announce a mezzanine debt and minority equity investment in Pinnacle Products International, Inc. (“Pinnacle” or the “Company”), a portfolio company of Taglich Private Equity LLC, to finance the acquisition of Schaefer Ventilation Equipment (“Schaefer”). Medallion Capital, Inc. invested alongside Spell in the transaction.
Pinnacle is a leading manufacturer of portable heating products serving the construction and industrial markets, while Schaefer is a leading manufacturer of ventilation products serving the agricultural and industrial markets. The combination of the two companies creates a global leader of diversified engineered air movement products that will be headquartered in Sauk Rapids, MN.
“We are pleased to support the combination of these two complimentary businesses, which together offer very compelling synergies,” said Andrew Leonard, Managing Director of Spell Capital Mezzanine. “By leveraging the unique strengths of these two businesses, we believe there are tremendous opportunities for accelerated growth.”
“We appreciate the support of the Spell team and their ability to be flexible and responsive to get this transaction done in an expeditious manner,” said Will Morris, Managing Director of Taglich Private Equity.