Minneapolis, MN – Spell Capital Partners announced the sale of Jet Edge Water Systems, a Spell Capital Partners Fund V portfolio company. Jet Edge, headquartered in St. Michael, MN, manufactures ultra-high pressure waterjet cutting systems, related pumps, and spare parts for precision cutting, surface preparation, and coating removal. Spell Capital acquired the business in June of 2017.
“Spell Fund V purchased the Jet Edge business from the family that founded the company in 1984. During our ownership of the company, we made a number of operational improvements to the business, including a new management team. This was a very successful outcome for Spell Fund V with a 2.9 MCF and a 41% IRR on the investment,” said Jim Rikkers, Sr. Managing Director of Spell Capital.
For more information regarding this transaction, please contact Jim Rikkers, Senior Managing Director, at firstname.lastname@example.org.