Warburg Pincus’ Clondalkin Group has sold its North American Flexible Packaging Businesses to Wind Point Partners’ Hilex Poly

Lincoln International announced that Clondalkin Group (“Clondalkin”), a portfolio company of Warburg Pincus, has sold its North American Flexible Packaging businesses (the “Company”) to Hilex Poly, a portfolio company of Wind Point Partners. Lincoln International (“Lincoln”) acted as the exclusive financial advisor to Clondalkin, working closely with Clondalkin, Warburg Pincus and the Company’s senior management team throughout the sale process.

The North American Flexible Packaging businesses include Accutech Films, Direct Plastics and Fortune Plastics. Combined, the Company is a leading provider of flexible packaging solutions offering value-added products to a broad array of customers in a variety of niche end markets including construction, food processing, industrial, janitorial & sanitation, and lawn & garden. The Company’s comprehensive product offering includes bags, films and liners manufactured through a wide range of capabilities including extrusion, lamination, conversion and flexographic printing throughout seven facilities in North America.

Norbert McDermott, CEO of Clondalkin, stated, “Through an extensive and focused marketing effort and a great understanding of Clondalkin’s Accutech, Direct and Fortune packaging businesses, Lincoln created a highly competitive process that provided an attractive valuation for the shareholders and a strong, long-term partner for the businesses sold.” Steve Coates, Managing Director at Warburg Pincus, commented, “Lincoln provided expert guidance throughout the sale process that was truly outstanding and critical in consummating this transaction.” Paul Hogan, Clondalkin’s Director of Business Development added, “The Lincoln team ran efficient processes in all stages, from preparing the business for sale, right through to contract finalization and worked diligently and effectively with us in all the phases, completing each phase successfully and on time.”

About the North American Flexible Packaging Businesses

The North American Flexible Packaging businesses specialize in blown film extrusion, conversion and printing of both mono and multilayer packaging solutions throughout its seven production facilities in North America. The Company’s packaging solutions include stretch hooder films, shrink bundling films, furniture covers, can liners, food and utility bags, banner films, and narrow and wide web flexographic printing for use in the construction, food processing, industrial, janitorial & sanitation, and lawn & garden end markets. For information about the North American Flexible Packaging businesses visit www.clondalkingroup.com/globalhome-en/flexible-packaging/north-america.

About Clondalkin

Clondalkin, headquartered in Amsterdam, The Netherlands, is an international producer of flexible and specialist packaging products with annual sales in excess of $1.1 billion (€900 million) and over 40 production locations in 10 countries throughout Europe and the United States. More information about Clondalkin can be obtained at www.clondalkingroup.com.

About Warburg Pincus

Established more than 40 years ago, Warburg Pincus has invested more than $40 billion in over 650 companies in more than 30 countries around the world. The firm’s strategy combines deep industry expertise and local market experience; the flexibility to support all stages of company development; a long-term investment horizon; and fully aligned interests among its portfolio company management, limited partners and general partners. For information about Warburg Pincus visit www.warburgpincus.com.

Warburg Pincus’ Clondalkin Group has sold its North American Flexible Packaging Businesses to Wind Point Partners’ Hilex Poly
  • 2013
    Close Year
  • Packaging
    Industry
  • Private Equity
    Client Type
  • Strategic | Cross-border
    Transaction Type
  • USA | Netherlands
    Countries

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