A Minnesota polyethylene film company did not have to go far to find its newest investors.
Investment firm Spell Capital Partners LLC is taking a stake in Polar Plastics Inc. of Oakdale, Minn.
Spell Capital is based in Minneapolis, about 20 miles from Polar Plastics.
Polar Plastics operates a 100,000-square-foot manufacturing facility and has been in business since 1967, according to the company's website.
Products include stretch film, sheeting, custom rolls and custom bags, according to Polar Plastics.
Spell Capital issued a short statement about the unspecified investment and could not be reached for additional comment.
"Polar Plastics is a manufacturer of plastic film and low density polyethylene packaging products used to make plastic films and bags for packaging, logistics, home improvement, retail and other applications," Spell Capital said in its statement.
Polar Plastic sheeting products are available for retail sale at Menards home improvement stores, according to the website.
Polar Plastics ranked 113th in the most recent Plastics News listing of film and sheet companies in North America. The company, according to the list, has estimated annual sales of $30 million, 85 employees and 12 lines.