Spell Capital Partners, a private equity firm, has acquired a majority position in Viking Plastics, a leading injection molding and assembly solutions provider. The transaction, facilitated by Stout Risius Ross, closed on November 18th and positions Viking Plastics for significant future growth. Spell Capital’s investment will fuel expansion through acquisitions, new technology, and expanded resources.
Viking Plastics’ existing management team, led by President and CEO Kelly Goodsel, will continue to lead the company. Leveraging Spell Capital’s expertise in acquisitions and financing, Viking Plastics aims to achieve $100 million in revenue by 2020. This partnership provides Viking Plastics with the financial backing and strategic guidance needed to reach this ambitious goal.
“We are thrilled with the outcome of this process,” stated Goodsel. “Stout Risius Ross, led by Mike Benson, helped us find the ideal partner to support our customers, stakeholders, and strategic growth initiatives. Spell Capital has a strong history of collaborating with management teams to drive growth organically and through acquisitions.”
Spell Capital’s investment reinforces Viking Plastics’ commitment to its customers and channel partners. The company plans to invest in new technologies, expand its geographic reach, and enhance its resources. This financial stability and reduced risk will ultimately benefit Viking Plastics’ customers.
Goodsel emphasized the seamless transition for customers and partners. “Our core values and commitment to customer satisfaction remain unchanged. This partnership enhances our ability to invest and expand, improving the customer experience. Our top priority has always been, and will continue to be, customer satisfaction.”
