M&A Deal Summary

SK Capital Partners and Stellus Capital Management Acquire Spectra Confectionery

On December 5, 2024, private equity firms SK Capital Partners and Stellus Capital Management acquired food company Spectra Confectionery

Acquisition Highlights
  • This is SK Capital Partners’ 2nd and Stellus Capital Management’s 3rd transaction in the Food sector.
  • This is SK Capital Partners’ 4th and Stellus Capital Management’s 2nd transaction in Canada.
  • This is SK Capital Partners’ 2nd and Stellus Capital Management’s 1st transaction in Ontario.

M&A Deal Summary

Date 2024-12-05
Target Spectra Confectionery
Sector Food
Buyer(s) SK Capital Partners
Stellus Capital Management
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Coldwater Corporate Finance (Financial)

Target

Spectra Confectionery

Vaughan, Ontario, Canada
Spectra Confectionery is a manufacturer of premium decorative toppings and confectionery products. Spectra supplies sprinkles, nonpareils, chocolate vermicelli, colored sugar crystals, sugar shapes, and panned products to North America’s largest food distributors, bakeries, ice cream, and snack food companies. Spectra Confectionery was founded in 1996 and is based in Vaughan, Ontario.

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Buyer(S) 2

Buyer

SK Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 4.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

SK Capital Partners is a private investor in mature and middle-market companies located throughout North America. SK Capital focuses on companies with opportunities for substantial business improvement and strong growth prospects. The Firm looks to invest $100 to $200 million of equity in transactions valued up to $500 million. Prospective businesses typically generate $50 to $500 million in revenues and at least $100 million in EBITDA. Areas of interest include specialty materials, chemicals and healthcare. The Firm will consider a variety of transaction situations, including buyouts, recapitalizations, growth equity financings, and corporate carve-outs. SK Capital Partners was spun out of Arsenal Capital Partners and became independent in 2007. SK Capital Partners is based in New York City.


DEAL STATS #
Overall 41 of 44
Sector: Food M&A 2 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 7 of 7
State: Ontario M&A 2 of 2
Country: Canada M&A 4 of 4
Year: 2024 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-29 Axillon Aerospace

Rockmart, Georgia, United States

Axillon Aerospace is a provider of engineered carbon fiber composite components and fuel containment solutions for the defense and commercial aerospace markets. Axillon Aerospace is based in Rockmart, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-21 bluebird bio

Somerville, Massachusetts, United States

bluebird bio is a clinical-stage biotechnology company focused on transforming the lives of patients with severe genetic and orphan diseases using gene therapy. bluebird bio was founded in 1992 and is based in Somerville, Massachusetts.

Buy -
Buyer

Stellus Capital Management

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 3.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stellus Capital Management is a provider of debt and equity capital to middle-market companies headquartered throughout the US and Canada. For credit commitments, Stellus looks to provide $10 to $50 million of capital to help support buyouts, acquisitions, recapitalization, growth opportunities, rescue financing, distressed situations, as well as bridge loans. Sectors' of interest for Stellus' credit practice includes business services, energy, general industrial, government, healthcare, software and specialty finance. Stellus' equity practice seeks to provide $20 to $100 million to small and mid-sized energy (upstream, oilfield services, midstream) companies. Stellus Capital was originally formed in 2004 as Laminar Direct Capital and operated as the direct investing unit of D.E. Shaw. The Group became independent in 2012. Stellus has offices in Houston, New York City, and Washington DC.


DEAL STATS #
Overall 74 of 86
Sector: Food M&A 3 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 20 of 23
State: Ontario M&A 1 of 1
Country: Canada M&A 2 of 2
Year: 2024 M&A 12 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-03 Combined Caterers

Charlotte, North Carolina, United States

Combined Caterers is a premium event management and catering services provider. Combined Caterers was founded in 1989 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-17 Arthur Murray

Coral Gables, Florida, United States

Arthur Murray is a dance instruction company that operates a global network of franchised dance studios offering lessons in ballroom, Latin, swing, and other popular dance styles for individuals and couples. Arthur Murray was founded in 1912 and is based in Coral Gables, Florida.

Buy -