buyout firm leonard green nears $1.5 billion acquisition of charter nex: sources - pet film for food packaging
The acquisition firm Leonard Green & Partners LP won an auction to acquire Charter Films Inc. S.
Film manufacturers for the food and medical industries for $1.
People familiar with the matter said 5 billion, including debt.
The deal valued Charter NEX about 14 times its 12-12
Monthly Earnings before interest, tax, depreciation and amortization, a bubble valuation of a packaging company, indicating that in the event of a boom in the market, private equity firms must pay the highest dollar to buy coveted sources said on Sunday.
The deal may be announced in the coming weeks as the sales process is kept confidential, so ask not to be identified, the source said.
Leonard Green and Charter NEX did not respond to requests for comment, while Pamplona Capital Management, the private equity owner of Charter private, declined to comment.
Charter NEX, headquartered in Milton, Wisconsin, is a manufacturer of polyethylene films for food and consumer packaging and industrial and medical applications.
Pamplona acquired Charter NEX from private equity firm Mason Wells in 2015 for undisclosed amounts.
A year later, Charter NEX of Pamplona acquired a smaller, peer-quality plastic company.
Pamplona has been increasing asset sales in order to seize the high price of the market.
Last week, the company sold a 33% stake in OSGF, a French funeral service provider, to the Ontario Teacher pension program.
Leonard Green raised $9 in cash.
There were 6 billion private equity funds last year.