StoneTree Investment Partners Invests in Viking Engineering

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Oct 29, 2024, 09:00 ET

DALLAS, Oct. 29, 2024 /PRNewswire/ -- StoneTree Investment Partners ("StoneTree"), a lower middle market industrials-focused private equity firm, is excited to announce its recent investment in Viking Engineering & Development ("Viking" or the "Company").

Based in Blaine, MN, Viking is the leading manufacturer of automated assembly and fastening equipment, primarily serving manufacturers in the wood pallet and bed frame industry. Viking delivers the industry's best performing, durable, high quality equipment to its global base of customers. Additionally, Viking delivers end-to-end customer service by providing parts, on-demand call center service, field service support, fasteners, installation and training services, and remote machine monitoring through its Smart Data™ technology. Founded in 1975, Viking pioneered the automated assembly and fastening equipment category for pallet manufacturers and has sustained its position as the market-leading brand.

"We are excited to partner with StoneTree," said Kurt Larsen, Viking's President & CEO. "We believe their priorities of relentless customer focus, operational excellence, technological innovation, and Investing in People^® strongly align with Viking's Next Level Mindset for both our customers and our employees."

"Viking exemplifies the type of industrial businesses in which StoneTree invests," said Joel Stanwood, Partner. "The Company has a rich legacy as the market leader in automated fastening equipment, a strong management team, and terrific prospects. We look forward to supporting the Company's continued growth." Also serving on the transaction from StoneTree were Chris Dupré (Partner), Sean Caetano (Vice President – Business Transformation & Advanced Manufacturing), and Chase Gosselin (Vice President – Finance + Transactions).

Viking was advised on the transaction by Hennepin Partners, a Minneapolis-based middle market investment bank.

McGuireWoods LLP served as legal advisor to StoneTree.

Terms of the transaction were not disclosed.

About StoneTree Investment Partners

StoneTree Investment Partners is an industrials-focused private investment firm founded by experienced operators, engineers, and investors, with a mission of Transforming Industrials and a purpose of Investing in People^®. With roughly $200mm in AUM, StoneTree selectively invests in established niche manufacturing and industrial companies where StoneTree members can serve alongside employees and management to elevate the company through a Business Transformation Agenda. For more information about StoneTree Investment Partners and its investment strategy, please visit www.stonetreeinvest.com.

SOURCE StoneTree investment Partners LLC