Stout announced that Polar Plastics Corp. (“Polar”), a portfolio company of Spell Capital Partners (“Spell”), has been acquired by Revolution, a leading manufacturer of sustainable plastic solutions. Revolution is a portfolio company of Arsenal Capital Partners. Stout served as exclusive financial advisor to Spell and Polar in connection with this transaction.

Polar Plastics is headquartered in St. Paul, MN, 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 been a trusted supplier of quality stock and custom products with attentive service to diverse, long-standing customers since 1967.

“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.”

Spell Capital is an established manager of private equity and mezzanine capital based in Minneapolis. Founded in 1988, Spell Capital has over 30 years of successful industry experience, manages over $1 billion of capital (AUM), and has 95 active investments.

James Rikkers, Senior Managing Director at Spell, added, “Stout did an excellent job with this transaction, and we feel that Polar is well-positioned to continue its success and growth with Revolution.”

David Evatz, Managing Director and Head of the Plastics industry practice at Stout, added, “Polar has a strong reputation for quality and customer service and brings highly complementary capabilities to Revolution. It was a pleasure working with Spell and Polar on this transaction.” 

Stout’s Sidarth Balaji, Conrad Hahne, and Aman Sharma assisted in executing the deal.

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