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 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 chemical and metal processing services for both aerospace and non-aerospace applications. Founded in 2007, the company offers a diverse range of services, including aluminum processing, steel processing, titanium processing, and shot peening. Additionally, it provides non-destructive testing and various metal-finishing services, ensuring high-quality outcomes for its clients. 3P Processing also supports shipping and receiving operations, catering to the needs of military and commercial OEM contractors in the aerospace and defense sectors.

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 manufacturing of innovative ingredients aimed at enhancing food freshness and nutrition. Established in 1998, Fiberstar produces Citri-Fi, a line of multi-functional fibers derived from orange pulp, which are utilized to improve food quality, nutrition, and labeling. These solutions serve various functions, including moisture management, partial oil and fat replacement, and the replacement of synthetic ingredients. In addition to Citri-Fi, the company offers Hydro-Fi, a texturizing ingredient for the food industry. Fiberstar's products find applications across numerous sectors, including bakery, dairy, snacks, beverages, and prepared foods. The company operates a manufacturing facility and holds exclusive worldwide licenses for patented biotechnology developed at the University of Minnesota, reflecting its commitment to technological innovation in food ingredients.

Arctic Fox

Acquisition in 2007
Arctic Fox is a company that specializes in manufacturing and supplying fluid heating systems for various vehicles and equipment. The company caters to both domestic and international markets, offering a range of patented fuel and fluid heating products tailored for production vehicles used by truck manufacturers in North America. Additionally, Arctic Fox has established strategic alliances with leading companies in the fluid heating and filtering sector to develop comprehensive fuel and fluid heating systems. These systems are utilized across diverse industries, including oil and gas, timber, and military applications worldwide.
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