FOR IMMEDIATE RELEASE :
Amtech LLC Acquires Arrowhead Composites and Thermoplastics
Alabama-based composite manufacturing plant will serve Southeast, Midwest and Atlantic
January 10, 2013 – Wapato, Wash.– Amtech LLC, an industry-leading manufacturer of fiber-reinforced plastic components (“FRP”) for a wide array of industries, today announced the acquisition of Arrowhead Composites and Thermoplastics, an Elmore, Ala.-based division of Arrowhead Plastic Engineering, Inc., a FRP manufacturing facility serving the transportation, recreation, and utility industries.
Established in 1969, the fiberglass plant in Elmore, Ala. became a part of Arrowhead Plastic Engineering, headquartered in Muncie, Ind., through an acquisition in 1994. The plant is located 10 miles north of Montgomery, Ala. and serves customers in the Southeastern and Midwestern United States. The nearly 80,000 square feet facility specializes in several fiberglass and composite molding processes.
“Through this strategic acquisition we can meet the demand of our regional production commitments and provide a new territory for growth,” said Doug Christie, CEO of Amtech Corporation. “Arrowhead Composites and Thermoplastics’ stellar track record positions the company for continued success in the marketplace.” Amtech looks forward to providing improved levels of service and support to current and new customers in the Southeast through this expansion.
Blackford Capital, a Grand Rapids, Mich.-based private equity firm which owns Amtech, helped facilitate the acquisition for Amtech and is excited about the company’s future in new regions of the country. Financing for the transaction was provided by Arctaris Capital Partners, a subordinated debt fund based in Waltham, Mass., Merion Investment Partners, a Radnor, Penn.-based subordinated debt fund, and Cole Taylor Bank.
“We are excited for this new chapter, which will allow us to continue to expand our business in the Southeast and greater Atlantic region,” said Tom Kishel, president of Arrowhead Composites and Thermoplastics. “Amtech has made this a very smooth process and we couldn’t ask for better partners in taking our company to the next level.” Arrowhead will work closely with Amtech after the sale ensuring a smooth transition of production as well as in a long-term sales engineering capacity.
Amtech, coming off the best year of performance in the company’s history, plans to continue growing its business in the Pacific Northwest as well as through its new location in the Southeast. The company is also seeking growth opportunities in the Midwest.
About Amtech Corporation
About Arrowhead Plastic Engineering, Inc.
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