Fresh Water Ventures acquires Grand Rapids firm SPINDEL Electronics

Freshwater Ventures, a Michigan based acquirer of lower middle market businesses, just closed its acquisition of SPINDEL Electronics in Grand Rapids Michigan.

Online PR News – 07-March-2023 – Grand Rapids, Michigan – Fresh Water Ventures, a Michigan based acquirer of lower middle market businesses, is pleased to announce the closing of its acquisition of SPINDEL Electronics located in Grand Rapids, Michigan. This marks the fourth acquisition for Fresh Water Ventures, an investment fund committed to providing transition capital to business owners looking to retire while protecting their legacy and employees.

SPINDEL’s engineering team has been in the high frequency drive industry since 1986 and under the SPINDEL brand since 1995. The SPINDEL team has global reach, specializing in the design, manufacture, application, and service of high frequency drives and converters

“We are excited to acquire SPINDEL, which carries a significant brand reputation and a gifted group of employees.” said Fresh Water Ventures Partner Peter Bottini.

"I am excited to start the next chapter of SPINDEL with the Fresh Water team," said co-founder and current CTO Otto Müller. "Boris and I have built a good business together. As he transitions to retirement, I was happy to find new partners willing to build on this solid foundation."

As Fresh Water Ventures continues to expand their current portfolio, they continue to grow each of their businesses and prove out their model. Within their defined process, they have proven to offer middle market businesses the support they need while maintaining the legacy they’ve spent years building.

Fresh Water Ventures Partner Jeff Matzen said, “It has been exciting to step into partnership with each of these companies, evaluating their current success and supporting them as they grow their business and develop their next generation of leaders.”

Fresh Water Ventures invests in rural businesses across multiple industries seeking to remain local, while transitioning ownership and partnering with current management.

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