Jadcore, a family-owned company started in Terre Haute, has been acquired by Revolution for an undisclosed sum, the companies announced Tuesday.
Revolution is an Arkansas-based plastic recycling firm serving the agricultural, consumer and industrial markets.
"They are post-consumer recycling and we are post-industrial recycling, so it will be a very complimentary union of two industry leaders ... that complement each other but do not compete with each other," said Jadcore President Rob Doti.
Rob Doti will remain as president. Dean Doti will remain vice president of sales. Both brothers will also become shareholders in the new ownership.
Jadcore now becomes Jadcore, A Revolution Brand.
In all, 250 employees will be retained in Terre Haute under the ownership transition.
"They are all staying. Everyone is keeping their job. There is no net impact to employee benefits or compensation. Technically we are all becoming employees of Revolution," Rob Doti said.
"Jadcore is excited about the potential to grow our capabilities in Terre Haute, including the possibility of post-consumer recycling," he said.
Sean Whiteley, CEO of Revolution, said Jadcore "has built an exceptional business rooted in sustainable solutions, best-in-class production capabilities, outstanding product quality and world-class customer service. Our shared values create an exciting opportunity for collaboration, and we feel very fortunate to welcome the Jadcore team to our Revolution family.
"We are confident this merger will strengthen our combined ability to serve new end markets and deliver closed-loop collections, recycling services and manufacturing solutions rich in recycled content," Whiteley added.
Revolution, headquartered in Little Rock, Arkansas, is backed by a major capital investment firm. In July, 2019, Arsenal Capital Partners acquired a controlling interest in Revolution for an undisclosed amount.
Arsenal invests in middle-market specialty industrial and healthcare companies that have from $100 million to $500 million in enterprise value. The firm has offices in New York and Shanghai (www.arsenalcapital.com).
Revolution markets an array of plastic products used in the agricultural sector, which it then recovers, cleans and processes into a post-consumer resin (PCR). The company closes the loop by using this PCR to manufacture the same agricultural products again, as well as other products such as trash can liners, carryout bags and construction films.
Revolution’s brands include Delta Plastics, Revolution Bag, Revolution Ag, Rodeo Plastics, and Command. More on the company is available at www.revolutioncompany.com
Jadcore is a family owned business that started in 1974. It serves large and small plastic manufacturers within a 500-mile radius of its Terre Haute plant. The company processes more than 100 million pounds of plastic resin annually.
It focuses on recapturing and recycling post-industrial plastic waste, which it supplies to other manufacturers as an economical alternative to virgin materials.
In addition, Jadcore manufactures can liners and specialty bags made from post-industrial recycled (PIR) resin. Today the company is one of the largest independent producers of PIR resin in the Midwest, and its operations include comprehensive recycling services, proprietary blending and processing, as well as blown film products for institutional and retail markets.
“As the fourth president of the company — succeeding two brothers and my father — it’s truly been a family affair," Rob Doti said. "With our exceptional team of employees we’re proud to say we have recycled over 2 billion pounds of plastic scrap since our beginning.
"Our long-term growth strategy has always been to expand into post-consumer recycling, and the opportunity to combine forces with Revolution is an ideal fit. We are excited to expand the capabilities at our Terre Haute operation, provide more opportunities for our team members and remain a vital part of the Terre Haute manufacturing community," Doti said.