Lincoln Partners Represents Spell Capital Partners, LLC in the Sale of Crysteel Manufacturing, Inc. to Kirtland Capital Partners
December 23, 2005 - Chicago, IL - Spell Capital Partners, LLC ("Spell") has completed the sale of Crysteel Manufacturing, Inc. ("Crysteel") to Kirtland Capital Partners ("Kirtland"). Lincoln Partners, a leading middle-market investment bank headquartered in Chicago, initiated the transaction, assisted in the negotiations, and served as the financial advisor to Spell. Terms of the transaction were not disclosed.
Crysteel is one of the country's leading producers of custom manufactured dump truck bodies, farm bodies, platform and stake bodies, military bodies, and hoists used in the public sector, highway, construction, military, landscaping, and agricultural markets. Since its inception, Crysteel has pioneered the move towards mass customization of its high-quality products, revolutionizing the industry and setting the standard for product innovation and quality.
Lincoln Partners identified Kirtland as a strong potential acquirer, given its growing portfolio of truck manufacturing companies.
"Lincoln Partners' understanding of the transportation industry was invaluable in this process," said Dobson West, Senior Managing Director of Spell. "Their hands-on approach and extensive relationships helped us achieve the best terms possible."
In addition to Crysteel, Kirtland also owns OxBodies, Inc. and Rugby Manufacturing Company, two manufacturers of high-quality truck bodies and related equipment which the firm acquired earlier this year.
Lincoln Partners oversaw all preparatory, marketing, due diligence, negotiations and closing phases, working directly with Spell, Crysteel and Kirtland to complete the transaction.
About Spell Capital Partners
Spell Capital Partners, LLC is a private equity and buyout firm based in Minneapolis, Minnesota. The firm invests in controlling interests in well-managed, historically profitable manufacturing or distribution businesses. Spell has a preference for businesses headquartered in the upper-Midwest.
About Kirtland Capital Partners
Kirtland Capital Partners is a private investment firm focused on buyout investments in companies that specialize in manufacturing and distribution. The firm is based in Beachwood, Ohio.
About Lincoln Partners
Lincoln Partners is a leading middle market investment bank specializing in mergers & acquisition services and private capital raising. Headquartered in Chicago and offering a depth of experience in a number of industries, Lincoln Partners ranks as one of the most active middle market advisory firms in the United States. Its clients include major publicly traded companies, well-respected private equity firms and prominent entrepreneurial businesses. The firm distinguishes itself by committing hands-on senior banker attention, in-depth industry expertise and international resources to every transaction, thereby producing outstanding results for its clients.
