Minneapolis, MN, November, 2016 – Spell Capital Partners, a leading lower middle market private equity firm, announces the sale of its portfolio company, GAF Manufacturing (dba Midwest Plastic Products) to Timewell Drainage Products, a family-owned and operated high density polyethylene pipe producer. GAF is a manufacturer of plastic drain tile, fittings and pipe accessories for the agricultural drainage and commercial tubing markets. Spell Capital acquired GAF in March, 2014 as the third investment of Spell Capital Partners Fund IV. The transaction closed on September 30, 2016. Financial terms were not disclosed.
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 Jim Rikkers, Senior Managing Director, at jim@spellcapital.com.