Sustainable Growth: Revolution Completes Acquisition of Polar Plastics

Plastic Recycler and Manufacturer Expands Commercial Products Division with Purchase of Minnesota-based Company

Little Rock, AR – October 23, 2020 – Revolution, a leading manufacturer of sustainable plastic solutions, today announced that it has acquired Polar Plastics Corporation (“Polar Plastics”) from Spell Capital Partners in order to expand its production footprint and further penetrate the packaging, agriculture and retail sectors with environmentally friendly products.

Polar Plastics has been serving the construction, agriculture, packaging, logistics, home improvement, and retail markets with high-quality polyethylene products since 1967. The company is based out of St. Paul, Minnesota where it operates a 100,000-square-foot production facility making products such as stretch film, sheeting, and custom rolls and bags.

Headquartered in Little Rock, Arkansas, Revolution is driven by a single mission: to create sustainable plastic solutions that help preserve the environment for future generations. Through its innovative closed-loop system, Revolution markets a wide array of green plastic solutions for the agriculture, construction, foodservice and retail sectors, which it then recovers, cleans and processes into post-consumer recycled (PCR) resin used to make new products such as trash can liners, carryout bags and construction films. Revolution was acquired by Arsenal Capital Partners in July 2019.

“The team at Polar Plastics has created a terrific business with deep customer relationships and a reputation for quality products and exceptional service. Their commitment to their customers and their culture of excellence and collaboration are a great fit with our priorities and mission,” said Sean Whiteley, Revolution’s CEO. “We feel very fortunate that we can add the great people at Polar Plastics to the Revolution family and look forward to learning from them and helping to contribute to their future success. We are confident this combination will strengthen our ability to serve new end markets and geographies with unique closed-loop collections, recycling and PCR-rich manufacturing solutions.”

“We have enjoyed the role Spell has played as a part of the Polar ownership history as it has successfully transitioned from a family owned business over the last several years,” said William Spell, President of Spell Capital. “We also appreciate the opportunity we’ve had to work with the Polar management team and are excited about the Company’s future as it joins the Revolution organization”.

About Revolution

Headquartered in Little Rock, Arkansas, Revolution Believes in Better Plastics that help preserve our environment for future generations. Spanning nearly every industry, the company’s family of brands deliver sustainable, high-quality plastic products to both consumers and companies alike. Its brands include Delta Plastics, Revolution Bag, Revolution Ag, Rodeo Plastics and Command. The focus in all areas is to create sustainable circular solutions and use as much post-consumer resin as possible in all products manufactured. For more information, visit www.revolutioncompany.com.

About Polar Plastics

Polar Plastics is headquartered in St. Paul, Minnesota and manufactures plastic film and low-density polyethylene packaging products used to make plastic films and bags for packaging, logistics, home improvement, retail, and other applications. Polar has a been a trusted supplier of quality stock and custom products with attentive service to diverse, long-standing customers since 1967. For more information, visit www.polar-plastics.com.

About Spell Capital Partners

Spell Capital Partners is an established manager of private equity and mezzanine capital based in Minneapolis, Minnesota. Founded in 1988, Spell Capital has over 30 years of successful industry experience. Currently, the firm manages over $1.0 billion of capital (AUM), has 95 active investments, and have finished investing our fifth private equity buyout fund, Spell Capital Partners Fund V, and are now investing Spell Family Office capital in new control equity deals. Additionally, we are investing our second mezzanine fund, Spell Capital Mezzanine Partners II. For more information, please visit www.spellcapital.com

About Arsenal Capital Partners

Arsenal is a leading private equity firm that specializes in investments in middle‐market specialty industrials and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed more than 45 platform investments and achieved more than 30 realizations. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value‐add. For more information, please visit www.arsenalcapital.com.