Blaine, MN – Palletec, LLC (DBA: Viking Engineering & Development) (“Viking”), a portfolio company of Spell Capital, has been acquired by StoneTree Investment Partners. Hennepin Partners served as Viking’s exclusive financial advisor and Cozen O’Connor served as legal counsel. Terms of the transaction were not disclosed.
Headquartered in Blaine, MN, Viking is a leading manufacturer of automated assembly and fastening equipment primarily serving manufacturers in the wood pallet and bed frame industry. Viking pioneered the automated assembly and fastening equipment category for pallet manufacturers and today is the undisputed market-leading brand. The Company leads with engineering and technology to deliver the industry’s best performing and highest quality equipment to its customers. In addition to equipment, Viking delivers end-to-end customer service by providing parts, installation, service, and nails supply.
Bill Spell, Founder and President of Spell Capital commented, “The Hennepin Partners team was a tireless advocate for Spell Capital and the Company during this process. They delivered the senior banker attention that was needed to get to a successful outcome. We wish the Viking and StoneTree teams continued success in this next chapter for the Company.”