Spintech Successfully Exits the Dayton Region Signature Fund

The most profitable exit from the Dayton Development Coalition/Accelerant™ Investment Fund

DAYTON, Ohio, Oct. 10, 2013 /PRNewswire/ -- The Dayton Region Signature Fund (DRSF), managed by the Dayton Development Coalition's entrepreneurial development group, Accelerant™, has achieved a profitable exit from one of its portfolio companies, Spintech, LLC, a spin-off from Cornerstone Research Group.  This exit signifies that the company has paid back the original DRSF investment along with a significant return to the fund's investors. Using patented shape memory polymer technology, methods for using shape memory mandrels, and methods for making shape memory patches, Spintech has successfully commercialized product lines from their two divisions, Smart Tooling and Gemini Materials. 

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"This is the most profitable exit from the fund so far," notes Joel Ivers, VP of Entrepreneurial Development at Accelerant. He adds that the payment back to the fund included an annual return in excess of 30% over three years.  This return will trigger a distribution to DRSF's limited partners who are mostly located in the Dayton area.

Spintech provides game-changing shape memory polymer technologies for composite manufacturing and structural repairs in aerospace, energy, automotive, defense, and consumer markets. Their patented Smart Tooling technology allows companies to drastically reduce their labor and capital cost to produce complex composite parts, while dramatically increasing production rates.  The company's composite patch technology allows users to quickly make structural repairs on almost any hard, non-porous surface.

"The Dayton Region Signature Fund was our first investor, allowing us to stand-up the company and attract additional investment," says Craig Jennings, President, Spintech. "We are grateful for the strong support we received from the DRSF Team even prior to their actual investment and continuing right up to our exit.  We are pleased that we are able to deliver on the commitments we signed up to when we accepted the DRSF investment."  

Ivers is currently opening up a new fund, called Accelerant Fund I, in an effort to create about 30 new successful start-up companies in the Dayton Region over the next few years. 

An initiative of the Dayton Development Coalition, Accelerant™ has a team of experts to help start-up technology companies with seed funding, business and financial guidance, and business plan strategy.  Accelerant participates in Ohio's Entrepreneurial Signature Program (ESP), which is part of The Ohio Third Frontier's efforts to develop the entrepreneurial ecosystem and to support early stage companies.  Accelerant is dedicated to nurturing emerging businesses in several signature areas vital for the growth of the Dayton Region including advanced materials and manufacturing, sensors and photonics, aerospace, human sciences and healthcare, and information technology.  Accelerant wants entrepreneurs in the Dayton Region to Start Something Big™.

The Dayton Development Coalition (DDC) is the leading economic development organization for the 14-county Dayton Region in Southwest Ohio.

SOURCE Accelerant

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