Pamplona to acquire Charter NEX Films

By Jenny Eagle

- Last updated on GMT

Pamplona to acquire Charter NEX Films

Related tags Investment

Private equity firm Pamplona Capital Management (Pamplona) has agreed to acquire Charter NEX Films, expected to be completed in Q1, 2015.

Charter NEX Films produces monolayer, co-extruded, and specialty blown film from four plants (Milton, Rhinelander, and Superior, Wisconsin and Turners Falls, Massachusetts)for applications that include barrier films, shrink wrap, stand-up pouches, and flexible packaging.

W&H 3-layer blown film line

The company announced it would expand its Turners Falls, Massachusetts facility in May last year, adding a Windmoeller & Hoelscher (W&H) 3-layer blown film line and recruiting six additional staff. The plant currently employs 72 people.

"Our strategy is to continually invest in all of our facilities with state of the art equipment to support our growing customer demands for performance and quality​,” said Kathy Bolhous, CEO, Charter NEX Films, at the time.

This plant has shown strong operational performance and these investments will allow them to raise the bar on performance​.”

Bolhous refused to release details of its sale figures but said the business grew above the market rate of 2-3% in 2013 and expects 2014 growth to be twice what was registered last year.

Charter Films

She said since the company’s merger with Charter Films in 2012, it accelerated its growth through infrastructure and capacity investments.

We believe there are significant opportunities to continue this growth both organically and through acquisitions and we are excited to be part of the business​,” said Martin Schwab, partner, Pamplona.

Pamplona will work with management to accelerate the company's growth ambitions by providing long-term financial and strategic support​."

Charter NEX was previously owned by private equity firm Mason Wells.

Related topics Processing & packaging

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