M&A Deal Summary

Stratford-Cambridge Group Acquires Jet Edge Waterjet Systems

On December 16, 2020, private equity firm Stratford-Cambridge Group acquired machinery company Jet Edge Waterjet Systems from Spell Capital Partners

Acquisition Highlights
  • This is Stratford-Cambridge Group’s 2nd transaction in the Machinery sector.
  • This is Stratford-Cambridge Group’s 5th transaction in the United States.
  • This is Stratford-Cambridge Group’s 1st transaction in Minnesota.

M&A Deal Summary

Date 2020-12-16
Target Jet Edge Waterjet Systems
Sector Machinery
Buyer(s) Stratford-Cambridge Group
Sellers(s) Spell Capital Partners
Deal Type Secondary Buyout

Target

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.

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Buyer(S) 1

DESCRIPTION

Stratford-Cambridge Group is a private equity firm focused on acquisitions of lower-middle market companies operating in basic industries. The Firm targets profitable businesses in the Midwest US with $1 to $5 million of EBITDa. Industries of interest include niche manufacturing, engineered products/services, and valued-added distribution in the industrial sector. Prospective transaction situations include buyouts of closely held companies, corporate divestitures, and recapitalizations. Stratford-Cambridge Group was established in 2009 and is headquartered in Plymouth, Michigan.


DEAL STATS #
Overall 5 of 5
Sector: Machinery M&A 2 of 2
Type: Secondary Buyout M&A Deals 2 of 2
State: Minnesota M&A 1 of 1
Country: United States M&A 5 of 5
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-11 AIC Equipment & Controls and Plasti-Co. Equipment Co.

Wixom, Michigan, United States

AIC Equipment manufactures and distributes aftermarket injection molding machine components such as barrels, feed screws & nozzles. Additionally, it sells injection molding machines and auxiliary equipment as a manufacturers’ representative through its AIC Equipment & Controls and Plasti-Co. brand. AIC is based in Wixom, Michigan.

Buy -

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 30 of 37
Sector: Machinery M&A 5 of 5
Type: Secondary Buyout M&A Deals 10 of 11
State: Minnesota M&A 7 of 9
Country: United States M&A 30 of 37
Year: 2020 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-07 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.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-15 Falls Fabricating

Little Falls, Minnesota, United States

Falls Fabricating specializes in contract manufacturing OEM products for a variety of industrial market customers. Falls Fabricating offers a full range of metal fabricating, CNC machining, and assembly services including, precision sheet metal shearing, punching, forming, manual and robotic welding, metal finishing, and powder coat paint. Falls Fabricating was founded in 1973 and is based in Little Falls, Minnesota.

Sell -