Speyside Equity Fund I LP Acquires Craftsman Custom Metals LLC from the Gesklin Family
Schiller Park, IL
Speyside Equity Fund I LP announces the acquisition of Craftsman Custom Metals LLC (“Craftsman”) from the Gesklin family. The transaction was completed on 07/31/2017.
Craftsman is a full-service provider of precision metal components and products with expertise in optimized design, prototyping, manufacture and assembly capabilities.
Julio Gesklin, who owned and operated Craftsman for over 25 years, stated, “I felt it was very important to sell Craftsman to a buyer with strong abilities and technical knowledge in the metal processing industry to be able to maintain business continuity and Craftsman’s excellent reputation. I am confident that teaming with Speyside will increase the service levels and capabilities that can be offered to Craftsman’s ‘blue-chip’ customers.”
Eric Wiklendt, Operating Partner for Speyside commented, “We are excited to add Craftsman to our portfolio of metal forming companies. The talents of Craftsman’s employees and the unique capabilities of its facilities will significantly improve the ability of our portfolio companies’ abilities to service customers.”
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.