SHELBY TOWNSHIP, Mich., April 24, 2023 /PRNewswire/ — Speyside Equity Fund I LP is pleased to announce the sale of its portfolio company, Avon Machining. Headquartered in Shelby Township, MI, Avon produces large, complex, precision parts for heavy industrial OEMs in North America. The transaction was completed on 4/21/2023.
Jeffrey Stone, Managing Director for Speyside, commented: “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.”
About Speyside Equity
Speyside Equity Fund I LP is a $130M special situations fund focusing on opportunities to deploy our resources to generate a step change in operating performance. Since 2016, the fund has made 21 investments totaling over $1B in revenue, 1720 employees operating in 14 countries.
Jeffrey A. Stone
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SOURCE Speyside Equity