William Spell
William (Bill) Spell | |
|---|---|
| Born | Minneapolis, Minnesota, U.S. |
| Occupation(s) | Investor, entrepreneur |
| Years active | 1981–present |
| Known for | Founder and president of Spell Capital Partners and Spell Family Office |
William (Bill) Spell is an American investor and entrepreneur, serving as the founder and president of both Spell Capital Partners and the Spell Family Office. Headquartered in Minnesota, Spell Capital boasts a 37-year track record in private equity, concentrating on transactions within the industrial manufacturing sector. Since 2018, the firm has been investing through the Spell Family Office, which oversees $700 million in assets.
Spell launched his professional journey as an investment banker at a regional Midwest bank, departing in 1988 as Director of corporate finance to create Spell Capital Partners. His core proficiency centers on private equity buyouts, mergers, and acquisitions.
Together with his spouse, Tiki, Spell established Spell Estate winery located in Sonoma, California. Additionally, he contributes actively to philanthropic efforts via the Spell Family Foundation.
Early life and education
Born in Minneapolis, Minnesota, Bill was raised in Golden Valley, Minnesota. His father served as a United States Naval officer during both World War II and the Korean War before retiring as CFO of a Fortune 500 utility and energy corporation.
Bill completed his high school education at Golden Valley High School in 1975, where he distinguished himself as a skilled wrestler. He obtained a Bachelor of Science degree from the University of Minnesota in 1979 and was affiliated with the Sigma Alpha Epsilon fraternity. Later, he earned an MBA from the Carlson School of Management in 1982 and returned as an adjunct faculty member between 2006 and 2007 to teach leadership within business management.
Career
Bill commenced his career in 1981 at a prominent Midwest investment banking firm, ultimately ascending to lead corporate finance. The firm specialized in venture capital, private placements, and public offerings.
In 1988, he founded Spell Capital Partners, a private equity firm targeting leveraged buyouts (LBOs) within the lower middle market industrial sector. Managing $700 million in assets with eight active platform investments, Spell Capital operates internationally with holdings across North America, Asia, Australia/New Zealand, and South America. The firm focuses on industries such as plastics, capital equipment, packaging, and specialized manufacturing.
Between 2011 and 2022, Spell Capital maintained a credit/mezzanine division that was sold to employees in 2022; these individuals now oversee legacy mezzanine funds I and II.
The year 2018 marked Spell Capital’s transition into the Spell Family Office model, shifting investment strategies from third-party capital to family office management.
From 1993 until 2006, principals of Spell Capital held controlling stakes in PW Eagle (Nasdaq: PWEI), recognized as the second-largest plastic pipe manufacturer in the United States. During this tenure, Bill fulfilled roles as Board Chairman, CEO, and President. By 2006, PW Eagle recorded $720 million in revenue with EBITDA exceeding $100 million prior to Bill's exit.
Since its inception, Spell Capital Partners has delivered an annual internal rate of return (IRR) of 26.9% alongside a cash-on-cash multiple of 3.28x.
The firm earned recognition among the Top 50 PE Firms in the Middle Market consistently from 2018 through 2024. In 2019, Inc. Magazine included Spell Capital in its list of Top 50 Private Equity firms. Additionally, in 2020, the US Small Business Administration honored Spell Mezzanine as SBIC firm of the year.
Bill has been affiliated with the Young Presidents' Organization (YPO) and Chief Executives Organization (CEO) since 1997.
Spell Estate Winery
Established in 2006 by Tiki and Bill Spell, Spell Estate Winery unveiled its inaugural vintage in 2009. Situated near Santa Rosa within Sonoma County's Russian River Valley AVA, the winery crafts two distinct single vineyard Pinot Noirs, alongside a proprietary Pinot blend, Chardonnay, and Rosé. By 2017, production reached its zenith at 1,900 cases, with distribution spanning multiple regions throughout the United States.
Philanthropy
The Spell Family Foundation was created by Bill and Tiki Spell in 1997, dedicating its efforts to supporting religious initiatives, healthcare, and children's programs. Bill has contributed his expertise to various boards such as the Minneapolis Heart Institute at Abbott Northwestern Hospital, the Minnesota Zoo, the Center for the American Experiment, and the 1% Giving Club.
Personal life
The Spells maintain residences in Edina, Minnesota; Scottsdale, Arizona; and Sun Valley, Idaho. Having been married for four decades, they are parents to two grown children and grandparents to three grandchildren.
Bill is a third-generation Greek American whose ancestors immigrated from the Peloponnese region of Greece around the turn of the 20th century. He holds prominent leadership positions within the Greek Orthodox Church, including roles on the Archdiocesan Council and the Executive Committee of the Greek Orthodox Archdiocese of America. Additionally, Bill participates in Leadership 100 and The Order of St. Andrew board, serves as an Archon of the Ecumenical Patriarchate, and has previously led as Parish Council President in Minneapolis. His involvement extends to serving on the investment board of the Patriarch Bartholomew Foundation as well as the board of the Metropolis of Chicago Foundation.
In recognition of his service, Bill was awarded the Medal of St. Paul in 2015—the highest honor bestowed upon laity by the Greek Orthodox Church—and he remains active on boards including The Hellenic Initiative, Holy Cross Seminary/Hellenic College, and New York’s St. Nicholas Church and Shrine.