Harris Williams & Co. Advises Hilex Poly in its Sale to Wind Point Partners

November 1, 2012

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Hilex Poly (Hilex) to Wind Point Partners (Wind Point).  Hilex is the nation’s leading manufacturer of plastic bag and film products and operates the largest closed-loop plastic bag recycling facility in the United States.  The seller was TPG Growth which had acquired the company in 2009.  Harris Williams & Co. acted as the exclusive advisor to Hilex.  The transaction closed on November 1, 2012 and was led by Patrick McNulty, Ryan Nelson, Karl Kirkeby and Ian Thomas from the firm’s Richmond office.

“Hilex is a remarkable platform with an excellent management team.  The company has done an exceptional job executing its strategic plan and is poised to capitalize on its new partnership with Wind Point.  It has been a pleasure working with Stan Bikulege and TPG Growth, and we look forward to following Hilex’s continued growth,” said Patrick McNulty, managing director at Harris Williams & Co.

Hilex, based in Hartsville, SC, is the nation's largest plastic bag manufacturer and operates the largest closed-loop recycling facility in the United States.  Hilex's Bag-2-Bag recycling program was the first closed-loop recycling program to introduce plastic bag recycling programs at supermarkets and retailers that also rewarded customers with high recycled content shopping bags.  Hilex operates the nation's largest plastic bag recycling plant, located in North Vernon, IN. 

TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm.  With $3.7 billion under management, TPG Growth targets investments in a broad range of industries and geographies, utilizing leveraged buyout, growth equity, and private investment in public equity (PIPE) structures.  The firm is backed by the resources of TPG, which has $51.5 billion of assets under management.  TPG Growth has offices in the United States, China and India. 

Wind Point is a private equity investment firm that manages commitments of approximately $2.5 billion.  Wind Point focuses on partnering with top caliber CEOs to acquire middle market businesses where it can establish a clear path to value creation.