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Manufacturing Technology Insights | Saturday, November 09, 2024
FREMONT, CA: StoneTree Investment Partners ("StoneTree"), a lower middle market industrials-focused private equity firm, is pleased to announce a recent investment in Viking Engineering & Development ("Viking" or the "Company").
Viking, headquartered in Blaine, Minnesota, is a prominent provider of automated assembly and fastening equipment primarily serving the wood pallet and bed frame industries. Viking provides its global customer base with the best-performing, most lasting, and high-quality equipment available. Viking offers comprehensive customer service, including parts, on-demand call center, field service assistance, fasteners, installation and training, and remote machine monitoring via Smart Data™ technology. Viking, founded in 1975, pioneered the automated assembly and fastening equipment category for pallet producers and has remained the market leader.
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"We are excited to partner with StoneTree," said Kurt Larsen, Viking's President & CEO. "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."
"Viking exemplifies the type of industrial businesses in which StoneTree invests," said Joel Stanwood, Partner. "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."
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