- The private equity firm was formed in 2005
- Targeted sectors include specialty chemicals, industrials/metal forming and food ingredients businesses
Speyside Equity has sold Avon Machining, a Michigan-based producer of precision parts for heavy industrial OEMs. No financial terms were disclosed.
On the sale, Jeffrey Stone, managing director for Speyside, said in a statement, “We acquired Avon in 2017 during very challenging times for the company in a deep value transaction. The value of the franchise became clear as we navigated a path forward with its customers, employees and suppliers. It has been a great pleasure to work with the team at Avon, and the collective efforts of the combined team resulted in extraordinary returns for our investors. We believe Avon has a bright future ahead of it and wish them the best.”
Based in Ann Arbor, Michigan, Speyside Equity invests in middle-market businesses. The private equity firm was formed in 2005. Targeted sectors include specialty chemicals, industrials/metal forming and food ingredients businesses.