William Spell

Last updated
William H. Spell
Bill Spell - Private Equity.jpg
Born
William H. Spell

Minneapolis, MN
EducationUniversity of Minnesota (BS), University of Minnesota (MBA)
OccupationPrivate Equity
Employer(s)Spell Capital Partners, Spell Family Office
TitleFounder and President
SpouseTiki Spell
Children2

William "Bill" Spell is an American investor and entrepreneur. He is the founder and president of Spell Capital Partners and the Spell Family Office. Spell Capital is based in Minnesota and has a 35 year history of investing in private equity, specializing in industrial manufacturing transactions. [1] Since 2018, the firm has invested on behalf of the Spell Family Office which has assets under management (AUM) of $1.0 Billion. [2]

Contents

Spell started his career as an investment banker, working for a Midwest-based regional investment bank. [3] During 1988 when he left to found Spell Capital Partners, he was Director of the corporate finance group. The majority of Spell's career has been spent in private equity buyouts, mergers and acquisitions. [4]

Together with his wife, Tiki, they are the founders of Spell Estate winery in Sonoma, California. [5] Spell has also been involved with numerous charitable and philanthropic activities, including the Spell Family Foundation. [6]

Early life

Bill was born in Minneapolis, Minnesota and grew up in Golden Valley, Minnesota. The Spell family (Speliopoulos) emigrated to the United States from the Peloponnese region of Greece at the turn of the twentieth century. [7] His father was a United States Naval officer during World War II and the Korean War. [8] He retired as CFO of a Fortune 500 utility/energy company. [9]

Bill attended Golden Valley High School and graduated in 1975. He obtained a Bachelor of Science degree (BS) from the University of Minnesota in 1979. While at the University of Minnesota, he was a member of the Sigma Alpha Epsilon fraternity. Bill earned a Master of Business Administration (MBA) from the Carlson School of Management at the University of Minnesota in 1982. [10] From 2006 to 2007, he served as an adjunct instructor at the Carlson School, teaching a course on leadership in business management. [11]

Career

Bill began his career in early 1981 as an investment banker at a large Midwest investment bank where he worked for seven years. During that time, he became a principal and when he left was head of the corporate finance department. During his tenure as an investment banker, the firm specialized in venture capital placements and initial and secondary public offerings. [12]

In early 1988, Bill founded Spell Capital Partners, a private equity firm that specializes in lower middle market industrial leveraged buyouts (LBO). The firm currently manages $1.0 Billion of capital (AUM) and has 11 active platform investments. [4]

Spell Capital Partners considers investment opportunities globally and owns businesses in North America, Asia, [13] Australia/New Zealand, [14] and South America. [15] The firm has an expertise and preference for investing in the plastics industry, capital equipment companies, packaging businesses, and niche manufacturing companies.

The firm had a credit/mezzanine division from 2011 to 2022 and in July of 2022, sold the mezzanine group to 10 employees, who now manage the Spell legacy mezzanine funds I and II. [16]

During 2018, Spell Capital Partners transitioned from investing third party investor capital to investing as a family office, having converted to the Spell Family Office. [17]

From 1993 to 2006, the principals of Spell Capital Partners held a controlling interest in a publicly traded company, PW Eagle (Nasdaq: PWEI), which was the second largest plastic pipe manufacturer in the United States. [18] During that time, Bill Spell held positions as Board Chairman, CEO, and President. In 2006, the company had approximately $720 Million in sales revenue with over $100 Million of EBITDA cash flow. [19] During that year, Bill exited the investment.

Since inception, Spell Capital Partners has posted an annual IRR investment performance of 26.9% and a cash-on-cash multiple of 3.28 times.

Spell Capital Partners was named in the “Top 50 PE Firms in the Middle Market” in each of the years from 2018 through 2023. [20] In 2019, Inc. Magazine included Spell Capital Partners in its Top 50 Private Equity firms. [21] During 2020, the US Small Business Administration (SBA) named Spell Mezzanine the “SBIC firm of the year.” [22]

Since 1997, Bill has been a member of the Young President’s Organization (YPO), and subsequently (WPO) and (CEO).

Spell Estate

During 2006, Tiki and Bill Spell founded the Spell Estate Winery, and in 2009 released their first vintage. [23] The winery is located just outside Santa Rosa, California in the Russian River Valley Appellation of Sonoma County. [24] They currently produce two single vineyard Pinot Noirs, a proprietary Pinot blend, a Chardonnay, and a Rose. Production peaked during 2017 at 1,900 cases. The wine is distributed in various regions of the United States and England. [25]

Philanthropy

In 1997, Bill and his wife Tiki established the Spell Family Foundation. [26] The foundation supports mainly religious, medical, and children's philanthropies. [27] Bill has also served on the board of directors for a number of philanthropic organizations including the Minneapolis Heart Institute at Abbott Northwestern Hospital, the Minnesota Zoo, [28] the Center for the American Experiment, and the 1% Giving Club.

Personal life

The Spells currently have properties in Edina, Minnesota, Scottsdale, Arizona, and Sun Valley, Idaho. Bill and his wife, Tiki, have been married for 39 years, and have two married adult children and two grandchildren.

Bill is a third generation Greek American [29] and is actively involved in various leadership positions in the Greek Orthodox Church. [7] He is a member of the Archdiocesan Council of the Greek Orthodox Archdiocese of America and has been a member of the Executive Committee. [30] Bill is a fulfilled member of Leadership 100, an Archon of the Ecumenical Patriarchate, [31] and a past Parish Council President of his Church in Minneapolis, Minnesota. Bill is on the Patriarch Bartholomew Foundation investment board, [32] and he was a recipient of the Medal of St. Paul. Bill is a board member of The Hellenic Initiative, Holy Cross Seminary/Hellenic College, and the St. Nicholas Church and Shrine in New York. He is also on the board of the Metropolis of Chicago Foundation. [33]

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References

  1. ↑ www.bizjournals.com https://www.bizjournals.com/twincities/stories/2007/05/14/story9.html . Retrieved 2023-10-02.{{cite web}}: Missing or empty |title= (help)
  2. ↑ Administration, United States Small Business (2020-09-16). "Minnesota Investment Firm Named Small Business Investment Company of the Year". GlobeNewswire News Room (Press release). Retrieved 2023-10-02.{{cite press release}}: |first= has generic name (help)
  3. ↑ "SPELL CAPITAL PARTNERS CLOSES LEVERAGED-BUYOUT FUND AT $25 MILLI". Bloomberg.com. 1998-01-21. Retrieved 2023-10-02.
  4. 1 2 "Executive Profile - William H. Spell". BusinessWeek. Archived from the original on October 8, 2013. Retrieved 7 October 2013.
  5. ↑ "Spell Estate | About Us | Visit Us | Tours". Spell Estate | Pinot Noir. Retrieved 2023-06-28.
  6. ↑ Roberts, Andrea Suozzo, Alec Glassford, Ash Ngu, Brandon (2013-05-09). "Spell Family Foundation - Nonprofit Explorer". ProPublica. Retrieved 2023-10-02.{{cite web}}: CS1 maint: multiple names: authors list (link)
  7. 1 2 Sakellis, Elani (October 6, 2020). "Greek-American William Spell Talks to TNH about Spell Capital, SBIC of the Year". The National Herald.
  8. ↑ Dev (2020-03-04). "Falling Asleep of Archon Harry W. Spell". The Greek Orthodox Metropolis of Chicago. Retrieved 2023-06-28.
  9. ↑ "Obituary for Harry W. Spell". Star Tribune. Retrieved 2023-10-02.
  10. ↑ "Is This the future of Quality?" (PDF). Carlson School of Management. Retrieved 7 October 2013.
  11. ↑ "Mr. and Mrs. William and Tiki Spell - The Ecumenical Patriarch Bartholomew Foundation". The Ecumenical Patriarch Bartholomew Foundation. Retrieved 2023-10-02.
  12. ↑ "Bill Spell, Spell Capital Partners LLC: Profile and Biography". Bloomberg.com. Retrieved 2023-10-02.
  13. ↑ Rikkers, Jim (2021-09-15). "Spell Capital Partners Announces Acquisition of Duromer Products Australia and DuroColour Vietnam". Spell Capital. Retrieved 2023-10-02.
  14. ↑ Reall, Jeannie (September 9, 2021). "Spell Capital buys two materials firms". Plastics News.
  15. ↑ "Injequaly Opens Plastic Injection Molding Plant in Joinville to Serve Whirlpool | Viking Plastics". 2021-11-11. Retrieved 2023-10-02.
  16. ↑ "About Us". NorthCoast Mezzanine. 2023-09-13. Retrieved 2023-10-02.
  17. ↑ "Spell Capital Partners". GCI Publishing. 2019-12-29. Retrieved 2023-10-02.
  18. ↑ "PW Eagle, Inc. | Encyclopedia.com". www.encyclopedia.com. Retrieved 2023-10-02.
  19. ↑ "PW Eagle's Third Quarter Net Income Increases on Eight Percent Revenue Growth". www.sec.gov. Retrieved 2023-10-02.
  20. ↑ "Spell Capital Partners". GCI Publishing. 2019-12-29. Retrieved 2023-10-02.
  21. ↑ "Spell Capital". Inc.com. June 17, 2019.
  22. ↑ Administration, United States Small Business (2020-09-16). "Minnesota Investment Firm Named Small Business Investment Company of the Year". GlobeNewswire News Room (Press release). Retrieved 2023-10-02.{{cite press release}}: |first= has generic name (help)
  23. ↑ admin (2014-05-16). "Winery Spotlight: Spell Estate". Wine Spectrum. Retrieved 2023-10-02.
  24. ↑ Living, Artful (2017-01-01). "North Notables: Bill Spell of Spell Estate". Artful Living Magazine. Retrieved 2023-10-02.
  25. ↑ "Spell Chardonnay". Wanderlust Wine. Retrieved 2023-10-02.
  26. ↑ Roberts, Andrea Suozzo, Alec Glassford, Ash Ngu, Brandon (2013-05-09). "Spell Family Foundation - Nonprofit Explorer". ProPublica. Retrieved 2023-10-02.{{cite web}}: CS1 maint: multiple names: authors list (link)
  27. ↑ "Spell Family Foundation - William Spell | Minneapolis, MN | Cause IQ". www.causeiq.com. Retrieved 2023-10-02.
  28. ↑ https://www.lrl.mn.gov/docs/2017/other/171057.pdf
  29. ↑ "Minnesota House and Senate Leadership issue religious freedom resolutions for the Ecumenical Patriarchate - Archon News Article - Order of Saint Andrew the Apostle, Archons of the Ecumenical Patriarchate". www.archons.org. Retrieved 2023-06-28.
  30. ↑ "Archdiocesan Council - Greek Orthodox Archdiocese of America - Orthodox Church". Greek Orthodox Archdiocese of America. Retrieved 2023-10-02.
  31. ↑ "National Council – Archons of the Ecumenical Patriarchate" . Retrieved 2023-10-02.
  32. ↑ jmadmin (2023-06-17). "Ecumenical Patriarch Bartholomew Foundation Investment Update". The Ecumenical Patriarch Bartholomew Foundation. Retrieved 2023-10-02.
  33. ↑ "Metropolis of Chicago Foundation". The Greek Orthodox Metropolis of Chicago. Retrieved 2023-10-02.
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