Spell Capital Partners

Spell Capital Partners, LLC, established in 1988, is a Minneapolis-based private equity and mezzanine capital manager. With over three decades of experience, the firm focuses on investing in industrial sectors across the United States, targeting both equity and debt opportunities. Its investment professionals, known for their diverse backgrounds and successful track records, are currently deploying capital from Spell Capital Partners Fund IV and Spell Capital Mezzanine Partners, their first mezzanine fund. The firm's primary areas of interest include industrial, manufacturing, plastics, packaging, precision metal fabrications, commercial products, and services.

Brent Haukom

Vice President

Paul Perseke

Operating Partner

Peter Ploumidis

Operating Partner

Bruce A. Richard

General Partner

James Rikkers

Senior Managing Director

Bill Spell

Founder / President

Harry Spell

Managing Director

4 past transactions

3P Processing

Acquisition in 2025
3P Processing, Inc. is a manufacturing company based in Wichita, Kansas, specializing in metal processing and finishing services for both aerospace and non-aerospace sectors. Established in 2007, the company provides a range of services including aluminum processing, steel processing, titanium processing, and non-destructive testing. It also offers shot peening and various coating services, such as prime and topcoat. Additionally, 3P Processing facilitates shipping and receiving to support its processing operations. The company primarily serves military and commercial original equipment manufacturer (OEM) contractors, delivering essential metal processing solutions for the aerospace and defense industries.

Anchor Fabrication

Debt Financing in 2015
Anchor Fabrication is a comprehensive metal fabrication business that caters to several key industries, including rail, industrial, heavy truck, oil and gas, and logistics. The company provides an array of services such as plasma and laser cutting, welding, machining, forming, assembly, and painting. Anchor Fabrication acquired Abby Manufacturing, a metal fabrication business based in Walnut, Mississippi, which operates three facilities and primarily serves the elevator, defense, and ground support equipment markets. This acquisition was part of Anchor's growth strategy to expand its capabilities and market reach.

Fiberstar

Debt Financing in 2013
Fiberstar, Inc. is a research and development company based in River Falls, Wisconsin, specializing in the production of natural ingredients that enhance food freshness and nutrition. The company is known for its Citri-Fi line, which consists of multi-functional fibers derived from orange pulp, aimed at improving food quality, nutritional value, and label transparency. Citri-Fi products are utilized in various applications, including moisture management, oil and fat reduction, and as replacements for synthetic ingredients in a wide range of food categories such as bakery items, dairy products, sauces, and snacks. Additionally, Fiberstar produces Hydro-Fi, a texturizing ingredient for the food industry. The company holds an exclusive worldwide license for patented biotechnology developed at the University of Minnesota, and its ongoing investment in research has facilitated the development of innovative solutions for the food, personal care, and industrial markets.

Arctic Fox

Acquisition in 2007
Arctic Fox is a manufacturer and supplier of fluid heating systems designed for vehicles and equipment, catering to both domestic and international markets. The company offers a range of patented fuel and fluid heating products specifically tailored for production vehicles from truck manufacturers in North America. Additionally, Arctic Fox has formed strategic alliances with leading companies in fluid heating and filtering, enabling it to provide comprehensive fuel and fluid heating systems. Its products serve various sectors, including the oil and gas industry, timber industry, and military applications globally.
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