Willkie represents Warburg Pincus and Amsterdam-based Clondalkin Group in the sale by Clondalkin of its North American Flexible Packaging operations to Hilex Poly.
Willkie represented Warburg Pincus and Clondalkin Group in the sale by Clondalkin of portions of its North American Flexible Packaging division to Hilex Poly, a portfolio company of Wind Point Partners. The businesses sold comprise Fortune Plastics, Accutech Plastics and Direct Plastics Limited. The deal, announced April 2, is expected to allow Hilex to continue to diversify its product line and expand its recycling technologies.
Amsterdam-based Clondalkin Group is an international producer of high value added packaging products and services. With 45 production locations in 10 countries throughout Europe and North America, the company’s annual sales are in excess of €900 million. Based in Hartsville, S.C., Hilex Poly is the nation’s largest plastic bag manufacturer and operates the largest closed-loop recycling facility in the United States.
The deal was handled by partners Steven Gartner, Robert Langdon, Michael Katz, David Drewes and Hillel Jacobson; of counsel William Thomas and associates Jennifer Crystal, Tej Prakash, Samantha Palmer, Rose Ohanesion, Meredith Levy and Jen Schanes.