Speyside Equity Fund I LP Acquires Block & Company Inc. from the Block Family
WHEELING, Ill., July 23, 2018 — Speyside Equity Fund I LP announces the acquisition of Block & Company Inc. (“Block”) from the Block family. The transaction was completed on 07/06/2018.
Block is a full-service manufacturer of cash drawers, point-of-sale systems and cash handling supplies with extensive flexible in-house manufacturing and strategic sourcing capabilities.
Eric Wiklendt, Operating Partner for Speyside commented, “We are excited to add Block to our portfolio of metal forming companies. The talents of Block’s employees and the unique capabilities of its facilities will significantly improve the ability of our portfolio companies’ abilities to service customers. The acquisition of Block pushes the combined revenues of Speyside’s steel fabrication companies over $100 million, and further strengthens the platform for future growth.”
The Peakstone Group acted as the exclusive advisor to the seller.
About Speyside Equity
Formed in 2005, Speyside Equity employs an operationally intensive approach to investing in specialty chemicals, industrials/metal forming and food ingredients businesses. It targets companies with a history of strong revenue, a defensible position in their respective markets, and a core group of managers that can move the business forward. Speyside prefers situations where there are opportunities to leverage its operating expertise to improve financial performance and create sustainable long-term value.
Since its formation, Speyside has successfully executed numerous platform investments and add-on acquisitions using its own capital. This principal-driven investment philosophy and approach will continue in its $130 million institutional fund closed in January 2016.
Speyside Equity Fund I LP.