Six months after completing a restructuring, plastic and metal injection molder ARC Group Worldwide Inc. (ARCW) appears to be seeking a buyer.
The DeLand, Fla., company said April 5 it has retained investment bank Imperial Capital LLC to "explore strategic alternatives." The move comes after restructuring that reduced ARCW's debt by about $34 million.
ARCW mainly operates in the metal injection molding and 3D printing markets, but in 2014 it bought plastics injection molder and toolmaker Advance Tooling Concepts in Longmont, Colo. ARCW's plastics-related markets now include electronics, medical devices, defense and consumer products, as well as secondary services such as prototyping, robotics and lean manufacturing.
ARCW, founded in 1987, delisted from Nasdaq in July 2019 after its stock price languished for months below the required minimum. It now trades over the counter; at midday April 6 its stock was trading at $1, a 52-week high.
For the fiscal year ended June 30, ARCW had sales of $48.5 million, down from $60 million in 2019. It reported a net loss of almost $5.3 million, compared with a 2019 loss of $24 million.