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Carlyle Group buys packaging company Novolex

The company has bought Novolex - which provides packaging solutions to retailers, hospitality industry, industrial markets, etc - Wind Point and TPG Growth

BS B2B Bureau  |  Chicago, USA 

Novolex's Hilex Poly brand QuikMate EZ bags
Novolex’s Hilex Poly brand QuikMate EZ bags

The has acquired Novolex, a provider of sustainable solutions, from its owner Partners and TPG Growth, minority shareholder. The transaction, terms of which were not disclosed, is expected to close before year-end.

“This is the next big step for and we could not be more pleased to join The Carlyle Group. We are deeply grateful to Partners and for their steadfast support and leadership over the last four years. We would not be where we are today without them,” explained Stan Bikulege, chairman and CEO.

will retain its name and become one of the companies in the Carlyle portfolio of investments. There will be no interruption of its operations and the management team will remain in place. 

is a great company with strong market positions and long-standing customer relationships. We are excited to partner with Stan and the Novolex™ team to support the company’s growth initiatives,” said Wes Bieligk, a principal on Carlyle’s US Buyout team.

Alex Washington, managing director, Partners, added, “Since we acquired in 2012, together we have achieved our value creation plan for by growing revenue from $ 500 million to over $ 2 billion and increasing profitability through  new products, conversion cost reduction, and five transformative add-on acquisitions. This has been a great partnership and we wish all involved in this transaction continued success.”

Equity for this investment will come from Carlyle Partners VI, a $ 13 billion US buyout fund.

is one of North America’s leading players in choice and sustainability serving retail, grocery, food service, hospitality, institutional and industrial markets. With the pending addition of Burrows’ operations, the company has 7,000 employees and 49 manufacturing plants: 47 in North America, including two world-class plastic recycling facilities, and one each in Europe and China. Headquartered in Hartsville, South Carolina (USA), the company’s brands include Hilex Poly, Fortune Plastics, Custom Film & Bag, Duro Bag, Bagcraft, De Luxe, General Packaging, International Converter, and Heritage Bag. 

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Carlyle Group buys packaging company Novolex

The company has bought Novolex - which provides packaging solutions to retailers, hospitality industry, industrial markets, etc - Wind Point and TPG Growth

The company has bought Novolex - which provides packaging solutions to retailers, hospitality industry, industrial markets, etc - Wind Point and TPG Growth
The has acquired Novolex, a provider of sustainable solutions, from its owner Partners and TPG Growth, minority shareholder. The transaction, terms of which were not disclosed, is expected to close before year-end.

“This is the next big step for and we could not be more pleased to join The Carlyle Group. We are deeply grateful to Partners and for their steadfast support and leadership over the last four years. We would not be where we are today without them,” explained Stan Bikulege, chairman and CEO.

will retain its name and become one of the companies in the Carlyle portfolio of investments. There will be no interruption of its operations and the management team will remain in place. 

is a great company with strong market positions and long-standing customer relationships. We are excited to partner with Stan and the Novolex™ team to support the company’s growth initiatives,” said Wes Bieligk, a principal on Carlyle’s US Buyout team.

Alex Washington, managing director, Partners, added, “Since we acquired in 2012, together we have achieved our value creation plan for by growing revenue from $ 500 million to over $ 2 billion and increasing profitability through  new products, conversion cost reduction, and five transformative add-on acquisitions. This has been a great partnership and we wish all involved in this transaction continued success.”

Equity for this investment will come from Carlyle Partners VI, a $ 13 billion US buyout fund.

is one of North America’s leading players in choice and sustainability serving retail, grocery, food service, hospitality, institutional and industrial markets. With the pending addition of Burrows’ operations, the company has 7,000 employees and 49 manufacturing plants: 47 in North America, including two world-class plastic recycling facilities, and one each in Europe and China. Headquartered in Hartsville, South Carolina (USA), the company’s brands include Hilex Poly, Fortune Plastics, Custom Film & Bag, Duro Bag, Bagcraft, De Luxe, General Packaging, International Converter, and Heritage Bag. 
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Business Standard
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Carlyle Group buys packaging company Novolex

The company has bought Novolex - which provides packaging solutions to retailers, hospitality industry, industrial markets, etc - Wind Point and TPG Growth

The has acquired Novolex, a provider of sustainable solutions, from its owner Partners and TPG Growth, minority shareholder. The transaction, terms of which were not disclosed, is expected to close before year-end.

“This is the next big step for and we could not be more pleased to join The Carlyle Group. We are deeply grateful to Partners and for their steadfast support and leadership over the last four years. We would not be where we are today without them,” explained Stan Bikulege, chairman and CEO.

will retain its name and become one of the companies in the Carlyle portfolio of investments. There will be no interruption of its operations and the management team will remain in place. 

is a great company with strong market positions and long-standing customer relationships. We are excited to partner with Stan and the Novolex™ team to support the company’s growth initiatives,” said Wes Bieligk, a principal on Carlyle’s US Buyout team.

Alex Washington, managing director, Partners, added, “Since we acquired in 2012, together we have achieved our value creation plan for by growing revenue from $ 500 million to over $ 2 billion and increasing profitability through  new products, conversion cost reduction, and five transformative add-on acquisitions. This has been a great partnership and we wish all involved in this transaction continued success.”

Equity for this investment will come from Carlyle Partners VI, a $ 13 billion US buyout fund.

is one of North America’s leading players in choice and sustainability serving retail, grocery, food service, hospitality, institutional and industrial markets. With the pending addition of Burrows’ operations, the company has 7,000 employees and 49 manufacturing plants: 47 in North America, including two world-class plastic recycling facilities, and one each in Europe and China. Headquartered in Hartsville, South Carolina (USA), the company’s brands include Hilex Poly, Fortune Plastics, Custom Film & Bag, Duro Bag, Bagcraft, De Luxe, General Packaging, International Converter, and Heritage Bag. 

image
Business Standard
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