FOR IMMEDIATE RELEASE
January 23, 2018
Byline Sponsor Finance Group supports Spell Capital Partners in its acquisition of Viking Engineering & Development, Inc.
Byline Bank’s Sponsor Finance Group (“BSFG”), the cash flow lending division of Chicago-based Byline Bank, announced that it provided revolving and term credit facilities to finance Spell Capital Partners investment in Viking Engineering & Development, Inc. (“Viking” or “Company”). Convergent Capital invested both mezzanine debt and equity in support of the acquisition.
Viking specializes in the design and manufacturing of state-of-the art machinery for automated wood pallet and bedding manufacturing, along with related fasteners, replacement parts and service. Founded in 1975 and headquartered in Fridley, Minnesota, Viking sells to and services customers across the United States and internationally. “As the leader in the automated pallet manufacturing market, Viking enjoys a strong reputation based on quality, reliability and strong service that spans four decades,” said Jim Kuncl, SVP of Byline Bank’s Sponsor Finance Group. “The Company is well positioned for continued innovation and growth. We are excited to support Spell Capital Partners and management as they partner to further grow the business and enhance their service and product offerings.”
About Byline Sponsor Finance Group
Byline Sponsor Finance Group, headquartered in Chicago, IL, provides senior secured cash flow loans to private equity backed lower middle market companies throughout the United States. BSFG focuses on companies that generate EBITDA between $2 million and $10 million with products that support the acquisition, recapitalization and growth investment efforts of private equity firms operating in the lower middle market. For more information visit: www.bylinebank.com/sponsor-finance.
About Byline Bank
Headquartered in Chicago, Byline Bank, a subsidiary of Byline Bancorp, Inc. (NYSE:BY), is a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank had $3.3 billion in assets at September 30, 2017, and operates more than 50 full service branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and retail banking products and services including small ticket equipment leasing solutions and is one of the top 10 Small Business Administration lenders in the United States.
About Spell Capital Partners
Spell Capital Partners is an established manager of both private equity and mezzanine capital. Spell Capital Private Equity is engaged in the acquisition of controlling interests in well-managed, historically profitable industrial manufacturing businesses. They use their deep expertise in acquisitions and financing to collaborate with management and grow the businesses in which they invest – both internally and by add-on acquisitions. For more information, visit: www.spellcapital.com
About Convergent Capital
Convergent Capital is an investment company that provides unique, responsive, and flexibly structured capital to assist in the growth and/or acquisition of businesses committed to long-term, sustainable growth in a broad range of industries. Convergent is focused on providing debenture and equity capital investments in a variety of situations, structuring investments around recapitalizations, sponsored buyouts, management buyouts, consolidations and add-on financings to its existing portfolio companies. For more information, visit www.cvcap.com
For more information please contact:
Dan Delgadillo, SVP
Sponsor Finance Group, Byline Bank
Jim Kuncl, SVP
Group Head, Sponsor Finance Group, Byline Bank