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Arcane Capital Acquisitions Top $100M

2 min read

Arcane Capital Partners of Little Rock announced the acquisition of two companies in deals aimed at consolidating its plastics manufacturing operations.

The acquisitions, which top $100 million combined, add Petroflex North America of Gainesville, Texas, and Wescon Plastics LLC of Wichita, Kansas, to Arcane’s portfolio of companies. Arcane, led by CEO Michael Hickmon, has acquired five companies since December 2021.

Hickmon said the deals bring significant manufacturing experience to Arcane, along with increased production capacity and in-house recycling capabilities. “We are very pleased with this transaction and see these companies as great additions to our business,” he said in a statement.

Petroflex manufactures continuous length high density polyethylene conduit and accessories made from recycled content. The company, founded by Pete and Susie Shauf in 1983, primarily serves the electric utility, renewable energy, irrigation, telecommunications and data industries.

Wescon Plastics, founded in 1972, specializes in engineered resins to make tight tolerance products for end-use across energy, heavy equipment, electrical, batteries, HVAC and recreation vehicles. The company provides end-to-end services from engineering and design support through final assembly. It also provides molding and tooling support.

Arcane said financing for the deals was provided by JPMorgan Chase & Co. through syndication with PNC Financial Services and Regions Financial Corp. Additional financing came from investment firm Aventurine Partners LLC of Houston in the form of preferred equity.

As part of the deal, Aventurine CEO Markus Specks will join Arcane’s board of directors.

“We’re excited to partner with Arcane in a shared vision to decarbonize established industrial sectors,” he said in a statement. “The Arcane family of companies manufactures key products that contribute to renewable power proliferation and utility grid upgrades.  Additionally, in-house recycling operations deliver measurable decarbonization today, pairing several of our core investment theses.”

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