Steve Murray Email & Phone Number

Us

I joined Spell Capital Partners as an Operating Partner in 2014. My role was to optimize the assigned industrial manufacturing portfolio companies relative to the strength and effectiveness of its CEO. On occasion this meant assuming the CEO role. In July 2017, Spell Capital acquired Jet Edge, a capital equipment company manufacturing high pressure waterjet cutting systems in St. Michael, MN and I moved over full time to lead the company. In December 2020, after tripling its investment in 2 1/2 years, Spell Capital sold the portfolio company to Stratford Cambridge Group (http://www.scgequity.com/).I was asked to continue on as an investor and leader of the company and enthusiastically agreed to do so.

Alliance Management provides Restructuring Advisory Services including Turnaround Management Assistance, Debt Restructuring and Refinancing, Asset Sales in and out of Bankruptcy, Interim Management and other services across many industries.Role: Restructure distressed businesses via an accelerated operational assessment, cash flow analysis and capital structure review. Recent individual company annual revenues range from $10 - $700 million.• Restructured highly complex $400 million, 108 year old manufacturer and distributor of residential construction products. Awarded 2009 Transaction of the Year award by the national Turnaround Management Association.• Refinanced $60 million dollar credit facility for a publicly traded, Power Sports vehicle manufacturer.• Executed various going-concern business sales, oversaw asset liquidations and turned around businesses in multiple industries including food/ag production, printing, residential construction, manufacturing/distribution and more.

Plymouth, Mn, Us

ADO Products is a manufacturer and distributor of residential insulation products and insulation installation accessories.Role: Led this closely held Company through an organizational excellence transition and positioned it for a partial equity sale.• Launched ICPro brand for the professional contractor and on-line ordering for consumer DIY direct sales (www.contractor-pro.com).• Grew revenues 38% and profits 286% over the operating year prior to joining the firm.• Increased market share 5% points during a declining market.• Awarded 2005 Manufacturer of the Year award by the Manufacturers Alliance.

Management Consultant providing advisory services to underperforming and distressed businesses.Trainer in Business Development, Lean Manufacturing, and Culture Creation.

Plymouth, Mn, Us

Red Devil is a manufacturer of colorant dispensing and mixing equipment for sale into the global coatings industry.Role: Took over a highly stressed Company that experienced several consecutive years of losses, held growing debt and had been unable to articulate and implement a growth strategy.• Implemented manufacturing excellence program. Improved margins 50% and reduced quality costs 63% in the first year.• Grew net revenue 220%, tripled market share and launched next generation of mixers.• Increased Pretax Profit to 21.7% of revenue from a Pretax Loss of 7.1% over the year prior to joining.• Paid off all working capital lines of credit and long term debt in less than 18 months.• Awarded 2000 Manufacturer of the Year by the Manufacturers Alliance.

European startup for Advance Machine Company, a vertically integrated industrial floor machine manufacturing company.