Minneapolis, MN, July 2018 – Spell Capital Partners, LLC announces an add-on acquisition of Genesis Plastics & Engineering (“Genesis”) by Fund V platform Viking Plastics. The Genesis acquisition represents the 2nd add-on acquisition by Viking in the last 18 months following the purchase of Kentucky Manufacturing Technology, LLC in April 2017. Genesis operates two plants in southern Indiana and brings customers in from the Japanese automotive supply chain as well as expanded tool building and molding capabilities. Kelly Goodsel, President of Viking says, “we see this as a way to diversify not only our customer base opportunities but also product capabilities.”
Viking Plastics, headquartered in Corry, Pennsylvania, now operates four plants in the United States and has ownership stakes in two injection molding plants outside of the United States, one in Brazil and another in China. Spell Capital Partners is continuing to seek strategic add-on opportunities through its Viking Plastics platform.
For more information regarding this transaction, please contact Jim Rikkers, Senior Managing Director, at jim@spellcapital.com.
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 businesses in which we invest.
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.