Plastic bag maker Hilex Poly Co. LLC has been acquired by Wind Point Partners, a Chicago private equity firm, in a deal announced Nov. 2.
Wind Point, in partnership with Hilex CEO Stan Bikulege, purchased the Hartville company from TPG Growth, an arm of investment firm TPG Capital, for an undisclosed amount.
Hilex is the largest maker of plastic bags in North America and runs the country's largest plastic bag-recycling operation.
Wind Point plans to accelerate the company's growth by introducing new products and completing complementary acquisitions, it said in a news release.
Hilex did not respond to requests for comment by press time.
Hilex was No. 19 in Plastics News' most recent ranking of film and sheet manufacturers. The company had film and bag sales of $470 million in 2011.