Amtech LLC (Wapato, Wash.), a manufacturer of fiber-reinforced plastic components for a wide array of industries, announced January 10 the acquisition of Arrowhead Composites and Thermoplastics (Elmore, Ala.), a division of Arrowhead Plastic Engineering, Inc., an 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 80,000 square ft plant, located 10 miles north of Montgomery, serves customers in the southeastern and midwestern U.S., and 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,” says Doug Christie, CEO of Amtech Corp. “Arrowhead Composites and Thermoplastics’ stellar track record positions the company for continued success in the marketplace.”
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.
Established in 1987, Amtech is a diverse manufacturer of composite-based products and parts with expertise in design, engineering, and research and development, Amtech’s products are distributed in both military and commercial markets. Amtech produces molded fiberglass parts by utilizing several processes including open molding, resin transfer molding (RTM), and vacuum-assisted RTM (VARTM). In addition, Amtech has large and small vacuum-formed plastic capabilities along with finishing, value-added assembly, and custom packaging.
Arrowhead specializes in custom molding of vacuum-formed plastic parts and fiberglass/composite parts for a wide variety of industries. Founded in 1972, Arrowhead’s strong engineering capabilities allow them to work closely with their customers to help them develop new products that are designed for manufacturability. CAD modeling, CNC-produced patterns and composite mold building are all part of Arrowhead’s core competencies.