New York investor buys ARC Group’s Weld County buildings

LONGMONT and FIRESTONE — ARC Group Worldwide Inc. (OTCMKTS: ARCW) sold its two Weld County buildings to a New York private equity firm late last month for $10 million.

The Florida-based manufacturer sold its properties at 7040 Weld County Road 20 and 8906 Frontier Road in Firestone for a combined $10 million to Quadrant Management Inc., according to Weld County property records.

Quadrant, through managing director Wayne Quasha, owns just over 60 percent of the company’s remaining stock after acquiring it last summer.

The two properties, which total 128,000 square feet, were last valued at about $6.25 million by county assessors.

The Weld County Road address is listed as Advanced Forming Technology’s office, and the Firestone address is home to Thixoforming, according to Arc Group’s website.

ARC Group makes metal and plastic injection parts for various industries. It cut 32 percent of staff in its Precision Forming division last May as part of a $7.1 million restructuring effort. Those cuts included staff at Advanced Forming and Thixoforming.

The company later voluntarily delisted itself from the Nasdaq stock exchange in July after failing to maintain a stock price over $1 per share for 30 consecutive days.

ARC executive vice president Jed Rust told BizWest the sales won’t affect the company’s operations, which employ 200 people.

LONGMONT and FIRESTONE — ARC Group Worldwide Inc. (OTCMKTS: ARCW) sold its two Weld County buildings to a New York private equity firm late last month for $10 million.

The Florida-based manufacturer sold its properties at 7040 Weld County Road 20 and 8906 Frontier Road in Firestone for a combined $10 million to Quadrant Management Inc., according to Weld County property records.

Quadrant, through managing director Wayne Quasha, owns just over 60 percent of the company’s remaining stock after acquiring it last summer.

The two properties, which total 128,000 square feet, were last valued at about $6.25 million by county assessors.

The Weld County Road address is listed as Advanced Forming Technology’s office, and the Firestone address is home to Thixoforming, according to Arc Group’s website.

ARC Group makes metal and plastic injection parts for various industries. It cut 32 percent of staff in its Precision Forming division last May as part of a $7.1 million restructuring effort. Those cuts included staff at Advanced Forming and Thixoforming.

The company later voluntarily delisted itself from the Nasdaq stock exchange in July after failing to maintain a stock price over $1 per share for 30 consecutive days.

ARC executive vice president Jed Rust told BizWest the sales won’t affect the company’s operations, which employ 200 people.