Press release submitted on behalf of Stout.
Stout announced that Viking Plastics, a portfolio company of Spell Capital Partners (Spell Capital), has been acquired by Hoffmann Family of Companies (HF Companies), a multi-vertical, family-owned private equity firm. Stout served as exclusive financial advisor to Spell Capital and Viking Plastics in connection with this transaction.
Founded in 1972, Viking Plastics is a leading innovator in custom plastic injection molding solutions, specializing in the development and production of high-quality sealing closures for automotive and HVAC applications. With over 50 injection molding machines and advanced automated assembly cells operating globally, Viking Plastics delivers cutting-edge, cost-effective solutions to a diverse clientele across North America and international markets, including Central Europe and the Far East. Headquartered in Corry, Pennsylvania, and with additional U.S. manufacturing facilities in Kentucky and Indiana, Viking Plastics is committed to excellence in engineering and manufacturing, continually advancing the industry with its proprietary technologies and customer-focused approach.
“We are excited to join HF Companies,” said Kelly Goodsel, President and CEO, of Viking Plastics. “This acquisition positions us for the next phase of our growth, and we eagerly anticipate both continued success and strengthening relationships with our exceptional clients. Spell Capital was a great private equity partner and I am thankful for their guidance. The Stout team managed a professional process and exceeded our expectations. As they say, surround yourself with good people and great things will happen.”
Spell Capital is an established manager of private equity and mezzanine capital based in Minneapolis. Founded in 1988, Spell Capital has over 35 years of successful industry experience and manages over $750 million of capital (AUM). After investing its fifth private equity buyout fund, new control equity deals are being funded by the Spell Family Office.
Jim Rikkers, Senior Managing Director at Spell, said, “During Spell’s ownership, Viking has experienced organic and inorganic growth and an expansion of the company’s products, customers, and manufacturing capabilities. We have enjoyed working with Kelly Goodsel and the rest of the Viking team and are excited about the company’s future as it joins The Hoffman Family of Companies.”
Stout Managing Director David Evatz, who led the transaction, added, “Viking is a trusted manufacturing partner of highly engineered plastic components for demanding applications in a variety of end market segments. It was a pleasure working with Spell and Viking on this transaction.”
Stout’s Mike Benson, Steve Simone, Vinay Moorthy, and Jared Nii also led in the execution of the transaction.
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