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Stellus Capital Management, LLC Provides Unitranche Financing in Support of SK Capital Partners' Acquisition of Spectra Confectionary Ltd.
December 11, 2024
Source: PR Newswire
HOUSTON, Dec. 10, 2024 /PRNewswire/ -- Stellus Capital Management, LLC ("Stellus") announced today that its affiliates provided senior debt financing and an equity co-investment in support of SK Capital Partners' ("SK Capital") acquisition of Spectra Confectionary ("Spectra" or the "Company"), one of Canada's largest manufacturers of premium decorative toppings and confectionery products, supplying sprinkles, chocolate vermicelli, non-pareils and sugar shapes to North America's largest food distributors, bakeries, and snack food companies.
Headquartered in Toronto, Spectra has established a strong reputation in the industry and is known for its high-quality and innovative confectionery products. The Company differentiates itself with industry-leading customer service, custom formulation and process know-how, leveraging deep expertise in quality, functional performance, and food safety. The Spectra leadership team, including John and Nick Georgas, will continue to drive the Company's day-to-day operations, ensuring a smooth transition and continued focus on delivering high-quality products to its loyal customer base.
"The Georgas family has built a tremendous business with an industry-wide reputation for quality and customer service over Spectra's 30-year history. We are honored they selected SK Capital as their partner in executing the Company's next phase of growth," said Dan Lory, Principal at SK Capital, adding, "We are pleased to partner with Stellus on this exciting opportunity and appreciate their support and flexibility during the financing process."
"Spectra fits right in SK Capital's fairway, and we are thankful for the opportunity to partner with them and the Spectra team," said Adam Pollock, Managing Director at Stellus. "Further, we believe that Spectra's entrenched market position, customer-centric innovation, and favorable demand drivers position it for continued success."
