Lincoln International Represents Pacific Production Technologies, an affiliate of Madison Capital Partners, in its Sale to Spell Capital
CHICAGO, February 11, 2008 - Lincoln International, a global mid-market investment bank, today announced the sale of Pacific Production Technologies ("PPT"), an affiliate of Madison Capital Partners, to Spell Capital Partners, LLC, a private equity group based in Minneapolis, Minn. Lincoln International acted as the exclusive financial advisor to Madison Capital Partners, a Chicago-based investment firm. Terms of the transaction were not disclosed.
Lincoln International worked closely with PPT's senior management team and its shareholders throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
PPT, headquartered in Mt. Carmel, Illinois, is a leading capital goods manufacturer. For more than 55 years, PPT has differentiated itself through design and engineering excellence, broad product and system solutions and a strong, recurring aftermarket business. PPT's Brown Machinery division, which manufactures continuous and cut-sheet thermoforming machines, is the largest operation of its kind in North America and the third largest worldwide. Additionally, PPT's Pacific Press Technologies division is the largest manufacturer of hydraulic presses, press brakes and shears in North America. PPT maintains a strong market position in its core end markets and works with some of the most highly- respected and established brand names in the industry.
"Lincoln International's thorough consultation and high level of professionalism during the process culminated in a transaction benefiting all parties involved," said Mike Stein, Chairman and Chief Executive Officer, PPT. Stein and his established senior management team will continue to manage the day-to-day operations with Spell Capital to aggressively grow the business both internally and through strategic acquisitions.
"Lincoln did an excellent job of evaluating our strategic alternatives, identifying the right potential acquirers and managing the entire sale process," added Larry Gies, President and Chief Executive Officer, Madison Capital Partners. "Lincoln's integrity, perseverance and expert advice from our initial discussions right through closing resulted in an outstanding outcome for PPT, its customers and its employees."
The sale of PPT builds upon Lincoln International's strong global industrials experience, having completed approximately 35 deals in the past year.
About Spell Capital Partners
Spell Capital Partners, L.L.C., is a private equity and buyout firm based in Minneapolis, Minnesota. Spell is engaged in the acquisition of controlling interests in well-managed, historically profitable manufacturing businesses. Spell Capital seeks to grow its portfolio companies both internally and through add-on acquisitions.
About Madison Capital Partners
Madison Capital Partners, a Chicago based investment group, acquires and grows industrial manufacturing companies. Madison has previously financed the growth of 20 very successful multinational corporations.
About Lincoln International
Lincoln International specializes in merger and acquisition services, private capital raising, and providing fairness opinions and valuations for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, London, Los Angeles, Madrid, New York, Paris and Vienna, and strategic partnerships with China Everbright and other partner firms in Asia, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise, and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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