The Business

Bellcomb Technologies Incorporated (“Bellcomb”) ( is a market leader in the design and manufacture of lightweight composite panel solutions utilizing a wide range of skin materials and cores. Today, Bellcomb is one of the world’s largest providers of lightweight composite panels and serves clients in more than 40 industries throughout the world.


Stonwurks, a division of M&G Designs Inc., is a manufacturer of lightweight stone panels used in a variety of applications. The company’s panels are constructed using thin sheets of stone bonded to honeycomb for a number of end markets, including marine, transportation and construction. The acquisition of Stonwurks will enable Bellcomb to offer customers a lightweight stone panel alternative to traditional stone products.

The Industry

Bellcomb is a market leader in the non-aerospace lightweight composite panel industry. The lightweight composite panel industry is highly fragmented and ripe for consolidation – consisting of several large manufacturers and hundreds of small, owner-operated manufacturers serving numerous and diverse end markets. In recent years, the industry has experienced tremendous growth, as businesses seek more cost-effective panel solutions that offer superior performance, greater durability and increased functionality relative to traditional panel products.

The Process

Prestwick Partners initiated this transaction and advised Bellcomb (Minneapolis, Minnesota) on its acquisition of Stonwurks (Sylvan Grove, Kansas). Prestwick consulted with Bellcomb’s senior management to develop an acquisition strategy for the company. Prestwick identified, approached and initiated discussions with numerous acquisition candidates on behalf of Bellcomb. As a result of our process, senior management reviewed 14 potential acquisition candidates, including Stonwurks.