Dhu Thompson, owner and chairman of Delta Plastics.
Arsenal Capital Partners of New York said last week it will buy the controlling interest of Revolution of Little Rock for a price that wasn’t publicly disclosed.
Revolution’s brands include Delta Plastics, Revolution Bag, Revolution Ag, Rodeo Plastics and Command. The brands “are known leaders in promoting environmentally sustainable practices and products in each of their respective markets,” according to a news release from the companies.
Arsenal plans to grow Revolution, which has more than 800 employees and plants in Arkansas, California and Texas, Sean Whiteley, CEO of Revolution, told Arkansas Business on Monday. “Opening a new plant is something that we are looking at and will be doing in the future,” he said.
Arsenal will “provide us with the capital to purchase the equipment to build these collection, washing and recycling plants that we’ve refined over the last 20 years to help us meet the mission of the company,” Whiteley said.
Delta Plastics is one of the largest manufacturer of polytube in the world and one of the largest recyclers of heavily soiled plastic materials.
The transaction is expected to be completed by the end of the month.
Dhu Thompson, the former majority owner and chairman of Revolution, will continue to serve on its board and keep “a meaningful investment” in the company, the news release said.
“Building Revolution has been one of my life’s passions,” he said in the release. “I am confident that we have found a partner who will continue to uphold our values and protect the identity, reputation, customer relationships and culture that we have built over the last 25 years. The roots of our company have been to find ways to do what others thought not possible.”
In 2016, Thompson received Arkansas Business’ Business Executive of the Year Award.
Whiteley said in the news release that the company is looking forward to Arsenal’s purchase.
“They have successfully invested in businesses like ours and their background in manufacturing, focus on sustainability and commitment to expanding our recycling and manufacturing capabilities is a perfect fit with our corporate objective of making plastic a renewable resource,” Whiteley said.
George Abd, an operating partner of Arsenal, said in the news release that “Arsenal is excited about being a strategic partner to accelerate Revolution’s growth both organically and inorganically.”
William Blair & Co. of Chicago was Revolution’s financial adviser, and its legal adviser was Wachtell Lipton Rosen & Katz of New York. Kirkland & Ellis LLP was the Arsenal’s legal adviser.
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