Six months after completing a restructuring, the plastic and metal injection molding machine ARC Group Worldwide Inc. (ARCW) appears to be looking for a buyer.
The DeLand, Florida company announced on April 5 that it has contracted investment bank Imperial Capital LLC to “explore strategic alternatives.” The move came after a reorganization that reduced ARCW’s debt by approximately $ 34 million.
ARCW is mainly active in the metal injection molding and 3D printing market. In 2014, the Longmont, Colorado company purchased plastic injection moulder and tool maker Advance Tooling Concepts. ARCW’s plastics markets now include electronics, medical devices, defense, and consumer products as secondary services such as prototyping, robotics, and lean manufacturing.
ARCW was founded in 1987 and delisted from Nasdaq in July 2019 after the share price fell below the required minimum for months. It is now over the counter; At noon on April 6, the stock was trading at $ 1, a 52-week high.
For the fiscal year ended June 30, ARCW posted revenues of $ 48.5 million, compared with $ 60 million in 2019. It reported a net loss of nearly $ 5.3 million compared to a loss of $ 24 million. USD in 2019.