Wind Point Partners announced today that portfolio company Hilex Poly, a manufacturer and recycler of plastic retail carry out bags and film products, has acquired portions of the North American Flexible Packaging division of Amsterdam-based Clondalkin Group. The businesses that Hilex Poly has acquired are Fortune Plastics, Accutech Plastics and Direct Plastics Limited. This transaction will allow the company to continue to diversify its product line, as well as expand its recycling technologies.
Stan Bikulege, Chairman & CEO of Hilex, stated, “We are extremely pleased to welcome the employees of these companies to Hilex. They have developed a great customer base and bring a tremendous new range of product offerings to Hilex that we will continue to expand. In addition, the progressive work undertaken by Hilex in the plastic bag and wrap recycling market can now be expanded to an even wider portfolio of flexible packaging products. We also appreciate the strong support of Wind Point Partners; they understand the importance of this North American manufacturing sector and are highly supportive of this next phase of our growth.”
Wind Point Partners