Spell Capital Partners has bought a stake in plastic wire maker Atlas Wire LLC.
Atlas is based in Schiller Park, Ill., and operates a plant there and in Tuscon, Ariz. The 66-year-old firm makes PVC, nylon and cross-linked polyethylene wire for a variety of industries and applications.
“Atlas is a niche manufacturer with an excellent reputation, outstanding customer service and top quality products,” Bill Spell said in a new release. Spell is president and founder of Minneapolis-based Spell Capital. No purchase price was disclosed.
Atlas CEO Bruce Leska added in the release that “Spell Capital's experienced and knowledgeable team will act as an important complement to our existing management team.” He added that Spell Capital “will help position us to execute our growth plan.”
Spell has a history of plastics investments. Its current plastics holdings include machinery firm Thermoforming Technology Group (TTG) LLC of Beaverton, Mich., and Midwest Plastic Products, a maker of plastic drain tile, fittings and pipe accessories in Jefferson, Wis.
Financial firm Stout Risius Ross Inc. of Chicago was the sell-side adviser to Atlas in the deal.