Speyside Equity Fund I LP Acquires All of the Assets of Avon Gear Company
Shelby Township, MI
Speyside Equity Fund I LP announces the acquisition of Avon Gear Company, located in Shelby Township, MI. The transaction was completed on 5/17/2017.
Avon Gear designs and produces large, complex, precision parts for heavy equipment industries in North America and beyond. The company collaboratively engineers and provides the part solution that maximizes long term reliability, durability and overall cost effectiveness as a Tier 1 supplier to OEMs. Avon Gear Company was founded in 1974 and moved to its current 110,000 square foot facility in Shelby Township, MI in 2008.
Jeffrey Stone, Managing Director for Speyside, commented: “Avon has a long track record in the gear machining business. The current environment for Avon’s end markets is improving which provides an opportunity for growth.”
About Speyside Equity
Formed in 2005, Speyside Equity employs an operationally intensive approach to investing in manufacturing, specialty chemicals and food ingredients businesses. Speyside 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. The team made its first investment in Sweet Ovations, a food ingredient company, in 2005 and had its first exit in 2010 when it sold Stahl Specialty Company. This principal-driven investment philosophy and approach has continued in its $130 million institutional fund closed in January 2016, Speyside Equity Fund I LP. To date, Speyside has executed 11 platform investments since closing the fund.
Jeffrey A. Stone