2013 Mason Wells Merges NEX Performance Films and Charter Films
For further information contact: Gregory J. Myers, 414-727-6404, Jay J. Radtke, 414-727-6405
MASON WELLS MERGES NEX PERFORMANCE FILMS AND CHARTER FILMS
MILWAUKEE (Jan. 3, 2013) – Mason Wells announced today that its portfolio company, NEX Performance Films, Inc. has closed on the acquisition of Charter Films, Inc. The combined business has been re-named Charter NEX Films, Inc. (“Charter NEX”), and is owned by Mason Wells, management and other co-investors. Charter NEX’s leadership will be comprised of members of each company’s management team.
Charter NEX produces monolayer, coextruded, and barrier films for a wide variety of applications. Most of Charter NEX’s products are sold to converters who utilize the films to produce flexible packaging for food, foodservice, pet food, industrial, and medical markets. The combined company will offer four production facilities, 28 extrusion lines, and the capability to produce state-of-the-art mono through 9-layer films.
“Mason Wells is excited about the combination of NEX and Charter, and we are pleased to be partnering with the outstanding management teams of these two organizations,” said Greg Myers, senior managing director of Mason Wells. “Both companies have tremendous reputations in the market and are known for customer responsiveness, operational excellence, and technical leadership. All of it is driven by their dedicated employees and a commitment to providing customers with the highest quality films.”
“By joining forces, Charter NEX will be able to create greater efficiencies and new growth opportunities, while still providing our customers with the same world-class solutions and services they have come to expect. Our partnership with Mason Wells started in 2010, and this transaction is a huge step forward in our goal of creating the industry leader in blown converter films,” said Kathy Bolhous, Charter NEX’s CEO.
Senior financing for the transaction was led by US Bank, and mezzanine financing was provided by Northwestern Mutual Life Insurance Company.