PE  Spell Capital Partners

     Office Locations:

222 South Ninth Street, Suite 2800
Minneapolis, MN 55402
Phone: 612-371-9650
Fax: 612-371-9651



  • Middle Market



  • Manufacturing & Industrial



    Spell Capital Partners, LLC is a private equity and mezzanine capital based in Minneapolis, Minnesota. The firm is engaged in the acquisition of controlling interests in well-managed, historically profitable manufacturing, service and distribution businesses. Spell has a preference for businesses headquartered in the upper-Midwestern states of Minnesota, Iowa, Wisconsin, North Dakota, South Dakota, Indiana, Illinois, and Nebraska. The firm targets companies with established revenues of at least $10 million (with potential for internal growth and/or growth through acquisition or consolidation), and amortization (EBITDA) of at least $2 million. Spell makes equity investments between $3 million - $20 million. Currently, the firm manages over $1.0 billion of capital (AUM) and have finished investing their fifth private equity buyout fund, Spell Capital Partners Fund V, and are now investing Spell Family Office capital in new control equity deals. Additionally, the firm is investing their second mezzanine fund, Spell Capital Mezzanine Partners II. Since 1988, Spell Capital has over 30+ years of successful private equity investment experience.



      Fund Name



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    Investment Firm Key

       VC = Venture Capital
       PE = Private Equity
       A = Angel
       I = Incubator
       MB = Merchant Bank
       VD = Venture Debt
       FI = Family Investment Office
       FOF = Fund of Funds
       ED = Economic Development Office   
       TT = Technology Transfer Office
       CVC = Corporate Venture Capital
       SEC = Secondary Purchaser
       HF = Hedge Fund/Mutual Fund
    Venture Capital
    Seed Stage
    (includes "pre-seed," or
    concept stage)
    No Revenue
    Early StageMinimal
    Growth Stage
    (also called Mid-stage)
    Expansion Stage
    (also called Late-stage)
    $7M and greater
    Private Equity
    Lower Middle Market$10M-$249M
    Middle Market$250M-$499M
    Upper Middle Market$500M-$1B
    Large Cap>$1B

    Investment Team:

    Name   Title
    Get the complete investment team + individual email addresses for investment team partners. Get personal images, LinkedIn links, investment specialties, office locations and more with a National Database subscription.
    Andrea Nelson Chief Operating Officer/CFO
    Bill Spell President and Founder
    Darren Brathol Managing Director
    Harry Spell Managing Director
    Jim Rikkers Senior Managing Director


    Portfolio companies include:


    Recent News: