The acquisition forms part of Revolution’s efforts to expand its commercial products division and production footprint
Revolution, an Arkansas-based manufacturer of sustainable plastic solutions, has closed the acquisition of Minnesota-based Polar Plastics from Spell Capital Partners for an undisclosed sum.
Polar Plastics is engaged in providing high-quality polyethylene products for customers in the construction, agriculture, packaging, logistics, home improvement and retail markets.
Operating a 100,000ft2 production facility, the firm produces products including stretch film, sheeting, and custom rolls and bags.
Revolution CEO Sean Whiteley said: “The team at Polar Plastics has created a terrific business with deep customer relationships and a reputation for quality products and exceptional service.
“Their commitment to their customers and their culture of excellence and collaboration are a great fit with our priorities and mission.
“We are confident this combination will strengthen our ability to serve new end markets and geographies with unique closed-loop collections, recycling and PCR-rich manufacturing solutions.”
Revolution seeks to expand its production footprint
The acquisition forms part of Revolution’s efforts to expand its commercial products division and production footprint.
Additionally, the move allows Revolution to offer environment-friendly products to customers in the packaging, agriculture and retail sectors. Financial terms of the deal were undisclosed.
Spell Capital president William Spell said: “We have enjoyed the role Spell has played as a part of the Polar ownership history as it has successfully transitioned from a family owned business over the last several years.
“We also appreciate the opportunity we’ve had to work with the Polar management team and are excited about the Company’s future as it joins the Revolution organisation.”
Last year, Revolution was purchased by Arsenal Capital Partners, a private equity firm focused on investments in middle-market speciality industrials and healthcare companies.
Arsenal acquired Clariant’s healthcare packaging business for around CHF308m ($312m) in 2019.