Hilex Poly acquired by Chicago private equity firm

Published: November 2, 2012 6:00 am ET

Related to this story

Topics Film & Sheet

HARTVILLE, S.C. (Nov. 2, 2:30 p.m. ET)  — Plastic bag manufacturer Hilex Poly Co. LLC has been acquired by Wind Point Partners, a Chicago-based private equity firm, in a deal announced Nov. 2.

Wind Point purchased the Hartville-based company from TPG Growth, an arm of investment firm TPG Capital, for an undisclosed amount.

Hilex is the largest manufacturer of plastic bags in North America and runs the country’s largest plastic bag-recycling operation. The company makes a variety of bags and films for grocery, retail and good service operations, including bags with post-consumer recycled resin.

Wind Point plans to accelerate the company’s growth by introducing new products and completing complementary acquisitions, according to a news release.

Hilex did not respond to requests for comment by press time.

Wind Point acquired the company in partnership with Hilex CEO Stan Bikulege. The board of directors also includes manufacturing giants Mike Fitzpatrick, former CEO of Citadel Plastics and Rohm & Haas; Mike Riordan, former CEO of Fort Howard; Steve Hochhauser, former CEO of Johns Manville and Steve Humphrey, former CEO of Graphic Packaging.

Wind Point sold Citadel to private equity firm Huntsman Gay Global Capital LLC earlier this year. Under Wind Point’s four-year ownership, Citadel acquired six plastics material firms.

Hilex was no. 19 in Plastics News’ most recent ranking of film and sheet manufacturers. The company had sales of $470 million in 2011.

It was purchased by TPG in 2009 after emerging from prepackaged Chapter 11 bankruptcy.

GE Antares, a unit of GE Capital, Fifth Third Bank, Bank of Montreal and KeyBanc provided senior debt for Wind Point’s purchase. DLA Piper LLP acted as the legal advisor to Wind Point.


Comments

Hilex Poly acquired by Chicago private equity firm

Published: November 2, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Report: SVP takes Klöckner Pentaplast off the market

October 21, 2014 4:19 pm ET

Plastic sheet leader Klöckner Pentaplast Group is no longer for sale, according to an Oct. 21 Reuters article.    More

Image

Wisconsin cast film maker buys Ohio blown film specialist

October 21, 2014 2:57 pm ET

A Midwest U.S. acquisition has created a company armed with two distinct film technologies: cast films and coextruded blown film constructions.    More

Image

Cosmo Films evaluating coating in US

October 14, 2014 6:00 am ET

Cosmo Films Ltd. may start chemical coating of films in the United States.    More

Image

Reusable bag is friendly both for the environment and local businesses

October 14, 2014 9:16 am ET

The Austrian city of Berndorf has made shopping more environmentally friendly and promote local businesses by introducing the Berndorf Bag, a bag...    More

Image

Companies, SPI working together to get plastics recycling story out

October 9, 2014 11:25 am ET

The plastics market has a good story to tell where recycling is concerned. The challenging part is getting that story heard.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events