A private equity firm is looking at the possibility of selling Charter NEX Films Inc. after just a couple of years of ownership, according to a news report.
Pamplona Capital Management has hired two investment banks to consider the sale of the Milton, Wis.-based film maker, according to a Reuters report.
News of the potential sale continues a busy history for the maker of coextruded, barrier and monolayer blown films.
Formed in 2012 through the combination of NEX Performance Films Inc. and Charter Films Inc., the company acquired blown and cast film maker Bloomer Holdings Inc. in 2015. That deal brought locations in Bloomer, Wis., and Delaware, Ohio, to the company.
The company also has expanded its locations in Milton and Rhinelander, Wis., in recent years.
Now comes word of a potential divestiture. Pamplona Capital did not immediately return a telephone call seeking comment.
Pamplona, which is based in New York and London, acquired Charter NEX in 2015 from fellow private equity firm Mason Wells of Milwaukee.
Charter NEX has a total of six production facilities, including other sites in Superior, Wis., and Turners Falls, Mass.
The company ranks 22nd in the latest listing of North American film and sheet makers published by Plastics News with annual sales of $400 million.