Harris Williams & Co., a middle-market investment bank focused on the advisory needs of clients worldwide, announces the pending sale of Packaging Dynamics – which is owned by funds managed by Kohlberg & Co. – to Novolex (formerly known as Hilex Poly), a portfolio company of Wind Point Partners.
Packaging Dynamics is a manufacturer of flexible packaging solutions. The pending transaction, which is subject to customary closing conditions, is expected to close in the fourth quarter of 2014, and is being led by Patrick McNulty, Darwin Olympia, Brad Morrison and Trey Packard of Harris Williams & Co.’s Industrials Group and Ned Valentine of the firm’s Richmond office.
“It has been a pleasure working with the Packaging Dynamics management team. They have earned their reputation as a market leader through commitment to quality and continuous product innovation,” says Patrick McNulty, managing director at Harris Williams & Co.
Darwin Olympia, director at Harris Williams & Co., says: “Kohlberg and management have done a tremendous job building a premier flexible, paper-based food packaging business, and we look forward to watching the team’s continued success under Novolex."