Springfield Tool & Die Passes Torch to New Ownership

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Sep 05, 2024, 20:45 ET

Deal Facilitated by Viking Mergers & Acquisitions

GREENVILLE, S.C., Sept. 5, 2024 /PRNewswire/ -- Springfield Tool & Die, Inc., a renowned company in the manufacturing industry for nearly a century, has been acquired by Caleb Standafer III. Jackson Payne and Matt Gold of Viking Mergers & Acquisitions successfully facilitated the transaction, ensuring a seamless transition for this fourth-generation family business.

Congratulations to all parties involved! (PRNewsfoto/Viking Mergers & Acquisitions)

In a letter to customers and partners, retiring president Tom Aldridge and incoming president Caleb Standafer III emphasized their commitment to preserving Springfield's legacy and excellent service. With his extensive background in manufacturing, Standafer shares Aldridge's passion for customer service and looks forward to meeting all the clients while continuing to uphold Springfield's high standards.

"I am pleased to have chosen Viking for the sale of my business. Their professionalism and guidance were invaluable in the unfamiliar task of selling a business. Viking brought several qualified buyers with offers to the table, and one buyer stood out as a perfect fit to carry Springfield into the future, maintaining the culture, values, and customer service reputation we developed over nearly 100 years. Thank you, Jackson and Matt," wrote Aldridge, expressing his satisfaction with the transaction.

Standafer shared his enthusiasm for the acquisition: "During our search for a business to purchase, we spoke with many brokers. In our experience, Viking is one of the few that sets the standard for what a broker should be. Their process is fair, top-notch, and it has created a great outcome for both Tom and us. We thoroughly enjoyed working with Jackson and Matt throughout the process."

Viking Mergers & Acquisitions is proud to have played a pivotal role in facilitating this transaction and looks forward to seeing Springfield Tool & Die continue to thrive.

About Viking Mergers and Acquisitions
Viking provides M&A services to small and middle-market business owners. In business since 1996, Viking is one of the largest business brokers in the southeast US. The firm has successfully sold over 850 businesses with an 85% close rate, at an average of 96% of the listing price. Visit https://vikingmergers.com to request a free confidential business valuation or to get more information.

SOURCE Viking Mergers & Acquisitions