Pamplona Capital Management has completed its previously announced acquisition of Charter NEX Films Inc from Mason Wells. No financial terms were disclosed. Based in Milton, Wisconsin, Charter NEX is a a maker of polyethylene films. Houlihan Lokey Capital advised Charter NEX on the transaction.
Milwaukee (February 9, 2015) – Mason Wells, a leading Midwest-based private equity firm, announced the closing of the sale of Charter NEX Films, Inc. (“Charter NEX” or the “Company”) to Pamplona Capital Management (“Pamplona”), a global private equity firm. Charter NEX, headquartered in Milton, Wisconsin, is a leading provider of high-quality polyethylene films. The company supplies flexible packaging converters with a broad array of products, from monolayer to high barrier films, for the food, foodservice, industrial, medical, and pet food markets.
“Charter NEX is an outstanding company led by a world class management team. We have thoroughly enjoyed our five year association with the business,” said Greg Myers, Senior Managing Director at Mason Wells. “During our ownership of the Company, the management team has successfully implemented initiatives in operational excellence, quality leadership, technical innovation, and facility and equipment expansion. The management team has done an exceptional job and has the business poised for continued success in all the markets it serves.”
“The special relationship between Charter NEX and Mason Wells has taken the Company to a new level and allowed us to become a best-in-class performer,” said Kathy Bolhous, CEO of Charter NEX. “With the support of Mason Wells, we have worked hard over a number of years to become an industry leader in specialty film products. Starting with the acquisition of NEX Performance Films from Appleton Papers in 2010 and further bolstered by the 2012 merger with Charter Films, we have accelerated our growth through infrastructure and capacity investments to establish a leading industry platform. We look forward to continuing this focus on providing our customers with the highest quality products and investing for the future under Pamplona’s ownership.”
Charter NEX was advised by Houlihan Lokey Capital, Inc. with Quarles & Brady LLP as legal counsel.
About Charter NEX: Charter NEX Films, Inc. is a North American leader in engineering, extruding, and manufacturing superior-quality monolayer, coextruded and barrier films for flexible packaging applications. Charter NEX blown film products are ideal for industries such as agriculture, automotive, consumer goods, food and beverage, foodservice, industrial, lawn and garden, medical, and pet food. For more information, visit www.charternex.com.
About Mason Wells: Mason Wells is a leading Midwest-based private equity firm that is currently investing through Mason Wells Buyout Fund III, a $525 million fund. Since Mason Wells was formed in 1998, its buyout funds have invested in four specific industry sectors: Outsourced Business Services, Consumer Packaged Goods, Engineered Products & Services, and Packaging Materials & Converting. For more information related to Mason Wells, please visit the firm’s website at www.masonwells.com.