BlackArch was invaluable in helping us understand and evaluate the various strategic options available to us and in managing the many aspects of this acquisition.
Charlotte, NC (PRWEB) April 19, 2013
BlackArch Partners is pleased to announce that Delta Plastics of the South, LLC (“Delta Plastics” or the “Company”) has acquired certain assets of Continental Products (“Continental”) and obtained debt financing from Fifth Third Bank (collectively, the “Transaction”).
Delta Plastics’ acquisition of Continental assets will further its position as the leading manufacturer of flexible irrigation tubing for agricultural applications and the worldwide leader in the recycling of plastic materials reclaimed from rugged, dirty environments. In total, Delta Plastics reclaims more than 100 million pounds of plastic waste each year and is a pioneer in promoting environmentally responsible business practices through its closed-loop collection, recycling and reuse program. This proprietary recycling operation underpins the Company’s market leadership and reinforces the competitive position of each of Delta’s business units by providing a captive source of internally generated low-cost resin.
BlackArch Partners was retained by Delta Plastics to serve as the exclusive financial advisor on strategic alternatives regarding the Company’s growth options, capital structure and acquisition opportunities. The Transaction marks the culmination of an extended engagement by BlackArch Partners to assist Delta Plastics in achieving an optimal capital structure, cementing the Company’s market leadership position and transitioning to its next stage of growth.
"This transaction is highly accretive to Delta Plastics and will enable us to better serve the growing needs of our customer base as we continue to make significant investments in our production, collection and recycling processes,” Sean Whiteley, Chief Executive Officer of Delta Plastics, said. “BlackArch was invaluable in helping us understand and evaluate the various strategic options available to us and in managing the many aspects of this acquisition."
Headquartered in Little Rock, Arkansas, Delta Plastics is the leading manufacturer of flexible irrigation tubing for agricultural applications and is the worldwide leader in the recycling of plastic materials reclaimed from rugged, dirty environments. The Company manufactures extruded polyethylene lay-flat pipe used by farmers to irrigate furrowed and non-furrowed fields for a wide-variety of crop types, including corn, soybeans, cotton, peanuts and rice, among others.
BlackArch Partners is a middle-market investment bank that offers investment banking advisory services to Financial Sponsors, Private Companies and Diversified Corporations. BlackArch addresses the needs of entrepreneurs, founders and shareholders of Private Companies with specialized services that include M&A Advisory, Strategic Advisory and Private Capital solutions. Based in Charlotte, N.C., BlackArch covers all industries of interest to middle-market investors, and its professionals have closed over 300 transactions in 16 countries on four continents. Please visit our website for more details.
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