Spartech LLC has a new private equity owner, with Nautic Partners LLC announcing Oct. 18 it has completed an acquisition — along with management — of the film and sheet maker and thermoformer from Arsenal Capital Partners.
Terms of the deal were not announced.
In a news release, Nautic said it is partnering with Spartech management in the sale and that John Inks, Joe Herres, Greg Zeis, Chris Southard and other leaders of the Maryland Heights, Mo., company will "continue driving the initiatives they have spearheaded over the last several years."
"We're thrilled to back this team and their effort to take the company to the next level organically and through selective add-on acquisitions," Nautic Managing Director Chris Pierce said.
Spartech operates 14 plants across the U.S. It ranked No. 24 in Plastics News' most recent ranking of film and sheet manufacturers in North America with sales of $400 million, and No. 40 in PN's ranking of thermoformers, with $40 million in sales in the region.
Arsenal Operating Partner George Abd had led Spartech as chairman and CEO previously, and said Arsenal had been "extremely pleased" with the leadership at the firm, and said Arsenal believes the team can continue to "implement, improve and out perform."
Inks, Spartech's chief operating officer, said he expects the company to continue building on its existing customer relationships with Nautic.