Spell Capital Partners Acquires Hardwood Supplier MacDonald & Owen

The acquisition will support the company's next phase of growth while preserving its heritage and customer relationships.

Published on Mar. 5, 2026

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Spell Capital Partners, a private investment firm, has acquired MacDonald & Owen, a leading manufacturer and supplier of high-quality hardwood lumber and specialty wood products based in West Salem, Wisconsin. The acquisition was made in partnership with the existing management team, who will continue to lead the business and maintain a significant ownership stake.

Why it matters

The acquisition of MacDonald & Owen, a company with over 50 years of history and a strong reputation in the hardwood lumber industry, reflects Spell Capital's strategy of partnering with well-established businesses and their management teams to support long-term growth while preserving the company's culture and customer relationships.

The details

MacDonald & Owen produces around 40 million board feet of hardwood lumber annually from four different locations in Wisconsin and Pennsylvania, serving a diverse customer base around the world. The company offers a range of services, including custom length/width/color sorts, gang ripping, S4S, mixed truckload shipments, and a full-service wood components facility offering drawer sides, face frame profiles, glued panels, cabinet parts, chopped to length parts, other millwork services, and UV finishing. MacDonald & Owen is also FSC certified.

  • MacDonald & Owen was founded more than 50 years ago.
  • The acquisition by Spell Capital Partners was completed on March 5, 2026.

The players

Spell Capital Partners

A private investment firm based in Edina, Minnesota, that focuses on partnering with strong management teams to build durable, values-driven businesses.

MacDonald & Owen

A leading manufacturer and supplier of high-quality hardwood lumber and specialty wood products based in West Salem, Wisconsin, with a reputation for craftsmanship, reliability, and long-standing customer relationships.

Jim Rikkers

The senior managing director at Spell Capital Partners.

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What they’re saying

“We are excited to partner with the MacDonald & Owen team as stewards of a business with such a rich history and reputation. As we look ahead, our focus is on supporting thoughtful, long-term growth while preserving the culture and customer relationships that have been central to the company's success.”

— Jim Rikkers, Senior Managing Director, Spell Capital Partners (building-products.com)

What’s next

Spell Capital Partners and the existing management team of MacDonald & Owen will work together to support the company's next phase of growth, while maintaining its strong reputation and customer relationships in the hardwood lumber industry.

The takeaway

The acquisition of MacDonald & Owen by Spell Capital Partners demonstrates the value that private investment firms can bring to well-established, family-owned businesses, by providing the resources and expertise to support long-term growth while preserving the company's core identity and culture.