M&A Deal Summary

DDG Acquires Vestal Manufacturing

On December 7, 2020, DDG acquired manufacturer Vestal Manufacturing from Spell Capital Partners

Acquisition Highlights
  • This is DDG’s 1st transaction in the Manufacturing sector.
  • This is DDG’s 1st transaction in the United States.
  • This is DDG’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2020-12-07
Target Vestal Manufacturing
Sector Manufacturing
Buyer(s) DDG
Sellers(s) Spell Capital Partners
Deal Type Add-on Acquisition

Target

Vestal Manufacturing

Sweetwater, Tennessee, United States
Vestal Manufacturing is a manufacturer and distributor of cast iron and steel fabricated components to municipalities, original equipment manufacturers and the home, hearth and patio industries.

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Buyer(S) 1

Buyer

DDG

Northbrook, Illinois, United States
Category Company
Sector Diversified
DESCRIPTION

DDG is a family backed holding company based in Northbrook, Illinois.

DEAL STATS #
Overall 1 of 1
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1

Seller(S) 1

SELLER

Spell Capital Partners

Edina, Minnesota, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Spell Capital Partners is a private equity firm that targets control investments in lower middle-market manufacturing and distribution businesses. Spell targets companies with at least $5 million in annual revenues and minimum EBITDA of $1 million. The Firm's target equity investment size range is $2 to $15 million. Spell prefers opportunities located in the upper-midwestern states of Minnesota, Iowa, Wisconsin, North Dakota, South Dakota, Indiana, Illinois, and Nebraska. Spell Capital Partners was formed in 1988 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 29 of 36
Sector (Manufacturing) 6 of 8
Type (Add-on Acquisition) 16 of 21
State (Tennessee) 1 of 1
Country (United States) 29 of 36
Year (2020) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-23 Polar Plastics

Oakdale, Minnesota, United States

Polar Plastics LLC is a manufacturer of plastic film and low-density polyethylene packaging products used to make plastic films and bags for packaging, logisitics, home improvement, retail, and other applications. Polar Plastics was founded in 1967 and is based in Oakdale, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-16 Jet Edge Waterjet Systems

St. Michael, Minnesota, United States

Jet Edge is a manufacturer of waterjets for precision and mobile waterjet cutting, ultra-high pressure water blasting, cleaning, and surface preparation. Jet Edge makes waterjet cutting machines, waterjet pumps, and water jet parts. Jet Edge was formed in 1984 and is based in St. Michael, Minnesota.

Sell -
Mergr

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