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Spell Capital Mezzanine Announces an Investment in Drake Truck Bodies

Minneapolis, MN, September 2018 – Spell Capital Mezzanine is pleased to announce a subordinated debt and equity co-investment in Drake Truck Bodies (“Drake”) to support the buyout of the company by Salt Creek Capital. Drake, headquartered in Phoenix, AZ, manufactures work truck utility service bodies and sells related accessories.

Spell Capital Mezzanine has significant dry powder available and is actively seeking new investment opportunities.

Spell Capital Mezzanine Announces an Investment in AC Business Media

Minneapolis, MN, August, 2018 – Spell Capital Mezzanine is pleased to announce a subordinated debt and equity co-investment in AC Business Media to support the buyout of the company by Boyne Capital. AC Business Media, headquartered in Fort Atkinson, WI, provides integrated marketing solutions across various business-to-business media platforms including digital, data, analytics, social media, print and trade shows focused on the heavy construction industry.

Spell Capital Mezzanine has significant dry powder available and is actively seeking new investment opportunities.

Spell Capital Mezzanine 2018 Mid-Year in Review

Spell Capital Mezzanine Partners Year to Date Activity:

  • 2 platform investments closed
  • 2 follow-on investments closed
  • 4 platform investments and 1 follow-on investment pending close

Meaningful Realizations/Paydowns:

  • 1 meaningful paydown of subordinated debt (May 2018)
  • 7 pending realizations expected by year-end

 

Spell Capital Partners Platform Viking Plastics Announces Add-on Acquisition of Genesis Plastics & Engineering

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.”  

Spell Capital – Top 50 Leader in Middle Market

Minneapolis, Minnesota, June 2018 – Spell Capital Partners was recognized as one of the top 50 PE firms in the middle market. They received the award for solid performance, innovation, successful track record, leadership and results. This is the second year running that Spell has received this honor.  

Spell Capital Partners, LLC Announces Its Investment in 3P Processing

Minneapolis, MN, March 2018 – Spell Capital Partners, LLC is pleased to announce its 7th platform investment in Fund V with the acquisition of 3P Processing. Headquartered in Wichita, KS, 3P is a full-service provider of metal finishing, testing and inspection process services to the Aerospace & Defense sector, specializing in complex geometric and high-precision parts.  

Viking Plastics Seeking Add-on Acquisition

Spell Capital Partners Fund V portfolio company, Viking Plastics, is a leading manufacturer of custom injection molded products and assemblies for the automotive, HVAC and industrial markets. In November 2016, Spell Capital Partners Fund V, acquired a controlling interest in Viking Plastics and in April 2017 Viking Plastics closed it first add-on acquisition, Kentucky Molding & Technology.

Viking Plastics is looking to continue to expand through the acquisition of additional injection molding businesses. The acquisition target should have revenues of at least $2 million.

A successful deal close could earn a finders fee. Referrals should be directed to Jim Rikkers, Spell Capital Partners, at jim@spellcapital.com or 612-371-9650.

Year in Review – 2017

Year in Review – 2017

Spell Capital Equity Partners made three new platform investments and one add-on acquisition.

Spell Capital Mezzanine Partners invested in five platform companies, two follow-on investments and had two successful realizations.

Spell Capital Mezzanine Partners SBIC II, LP

The Mezzanine team had a successful fundraising during the year, closing on our second mezzanine partnership.

Spell Capital Partners, LLC Announces Its Investment in Palletec, LLC

Minneapolis, MN, December 2017 – Spell Capital Partners, LLC is pleased to announce its 6th platform investment in Fund V with the acquisition of Palletec, LLC (DBA: Viking Engineering & Development.)  

Spell Capital Mezzanine Announces an Investment in Concrete Polishing & Restoration 

Minneapolis, MN, July 2017 – Spell Capital Mezzanine is pleased to announce a subordinated debt investment in Concrete Polishing & restoration (“CP+R”) to support the buyout of the Company by Servants’ Heart, LLC. Headquartered in Caryville, Tennessee, CP+R is a national provider of concrete polishing, restoration and other commercial flooring services. Servants’ Heart is a Sterling, Virginia based investment group led by experienced operating executive, Jeff Yoh. Many of the equity investors in CP+R are also equity investors in Jenkins Restorations, LLC, a 2008 acquisition, also led by Jeff Yoh, that has experienced significant growth through geographic expansion. Similar geographic expansion is also planned for CP+R.