Prairie Grove-based PolyTech Plastic Molding has a new owner
by January 12, 2023 2:02 pm 1,968 views
Arcane Capital Partners, a private family office in Little Rock led by Michael Hickmon, Sam Ford and Will Ford, announced Thursday (Jan. 12) that it is the new owner of Prairie Grove-based PolyTech Plastic Molding Inc. Financial terms were not disclosed.
PolyTech is a plastics-injection molding and extrusion company with customers across the country. Arcane is the parent company of similar businesses Johnson Manufacturing Co. in Harrison and Bentonville Plastics Inc.
In a news release, the new owners said adding PolyTech’s 65,000-square-foot facility will lead to more services for existing customers and increase production and distribution capabilities of injection-molded and extrusion products.
According to the release, PolyTech and Johnson Manufacturing will remain at their current facilities. Bentonville Plastics will be integrated into the Johnson Manufacturing operations in Harrison.
A PolyTech spokesman said the three companies have approximately 200 workers combined.
“We are pleased to have closed this transaction and start our integration process,” said Hickmon, Arcane’s CEO and managing partner. “Our company has admired the work done at PolyTech, and we are thrilled to expand our production capabilities and capacities and continue to build a standard-setting plastics manufacturing company in North America.
“As we navigate the changing trends within the industry — including being a leader in reshoring of American manufacturing — we recognize the expertise PolyTech brings to the table, and we look forward to combining our strengths as one company.”
The combined companies serve some of the largest and most recognizable names across multiple industries, including HVAC, electronic and telecom, water treatment and filtration, consumer products, medical, industrial, military, agricultural, energy and automotive. Arcane plans to expand services in those industries and new customers in the consumer packaged goods (CPG) and the food and beverage industry.
“The merger of these companies is a winning combination for all companies’ customers,” said PolyTech CEO and former owner Jim Benton. “PolyTech, Johnson Manufacturing and Bentonville Plastics have long been go-to plastics injection molding companies in this region. Combining PolyTech’s operational expertise, the strength of these companies in their respective industries and production capabilities, and the leadership of Arcane will certainly benefit all involved.”
PolyTech was founded in 1984 and acquired in 2013 by Benton and Keith Ekenseair.