Combined Forces in the Films Market
Next Generation Films and Charter NEX Films Are Merging
Private equity firms Leonard Green & Partners, L.P. (LGP) and Oak Hill Capital, owners of Charter NEX Films, Inc., Milton, WI/USA, have completed a definitive agreement with Dave Frecka, CEO, founder and owner of Next Generation Films, Inc., Lexington, OH/USA, to combine the companies. Dave Frecka will be a major shareholder in the combined company and will continue as CEO of Next Generation Films. Kathy Bolhous will continue as the CEO of Charter NEX Films. The transaction is expected to close by June.
Charter NEX and Next Generation Films plan to maintain their existing management teams and brand identities, operating as two distinct but synchronized divisions of the combined company.
According to the companies they have strong brands and state-of-the-art assets, but they also have complementary products and focus on different market segments. The combination is expected to provide both companies and their customers with significant benefits including access to new markets, enhanced technical expertise, and an expanded manufacturing footprint. The combined company will have eleven manufacturing plants and more than 100 extrusion lines in Ohio, Wisconsin, South Carolina and Massachusetts.
About Charter NEX Films
Charter NEX , Inc. is an independent producer of high-performance specialty films used in flexible packaging and other end-use markets.
About Next Generation Films
Founded in 1994, Next Generation Films, Inc. supplies specialty films to a variety of markets, including the food packaging, automobile, courier, manufactured housing and protective packaging segments.
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