DALLAS—StoneTree Investment Partners LLC, a lower middle market industrials-focused private equity firm, recently made an investment in Viking Engineering & Development, of Blaine, Minnesota, the company said in a release.
Viking Engineering & Development, founded in 1975, is a manufacturer of automated assembly and fastening equipment that primarily serves manufacturers in the wood pallet and bed frame industry. The company’s focus is on manufacturing and delivery of high performing, durable, high-quality equipment to its global base of customers.
StoneTree Investment Partners stated in the release that 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. Viking is reported to have pioneered the automated assembly and fastening equipment category for pallet manufacturers, and “has sustained its position as the market-leading brand,” the release stated.
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®.
“We are excited to partner with StoneTree,” said Kurt Larsen, president and CEO of Viking Engineering & Development, in the release. “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.”
StoneTree stated that it 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.
“Viking exemplifies the type of industrial businesses in which StoneTree invests,” said Joel Stanwood, partner at StoneTree. “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.”