Harris Williams & Co. Advises Packaging Dynamics on its Pending Sale to NOVOLEX
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the pending sale of Packaging Dynamics, which is owned by funds managed by Kohlberg & Company (Kohlberg), to NOVOLEX (f/k/a Hilex Poly), a portfolio company of Wind Point Partners. Packaging Dynamics is a manufacturer of flexible packaging solutions. The pending transaction, which is subject to customary closing conditions, is expected to close in the fourth quarter of 2014, and is being led by Patrick McNulty, Darwin Olympia, Brad Morrison and Trey Packard of Harris Williams & Co.’s Industrials Group and Ned Valentine of the firm’s Richmond office.
“It has been a pleasure working with the Packaging Dynamics management team. They have earned their reputation as a market leader through commitment to quality and continuous product innovation,” said Patrick McNulty, managing director at Harris Williams & Co.
“Kohlberg and management have done a tremendous job building a premier flexible, paper-based food packaging business, and we look forward to watching the team’s continued success under NOVOLEX,” said Darwin Olympia, director at Harris Williams & Co.
Packaging Dynamics is a leading flexible packaging and specialty laminations company providing innovative solutions to customers in each of its five businesses – BagcraftPapercon, International Converter, De Luxe, Pac Paper, and General Packaging.
Kohlberg & Company, LLC is a leading US private equity firm headquartered in Mount Kisco, NY. Since its inception in 1987, Kohlberg has completed 63 platform investments and more than 100 add-on acquisitions, with an aggregate transaction value of over $9 billion. Kohlberg has invested over $3 billion during its history and is currently investing its seventh private equity fund, Kohlberg Investors VII.
NOVOLEX, based in Hartsville, SC, is an industry leading manufacturer of flexible packaging products, ranging from bags for grocery, retail, and food service markets, to can liners and specialty films. In addition to the manufacturing locations across the US, Canada, and Mexico, the company operates the largest closed-loop recycling facility in the US.
Wind Point Partners is a private equity investment firm that partners with top caliber CEOs to acquire middle market businesses where they can establish a clear path to value creation. Since their founding in 1984, they have raised over $2.8 billion in commitments.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.