M&A Deal Summary

Apollo Global Management Acquires Novolex

On February 14, 2022, asset manager Apollo Global Management acquired packaging company Novolex from The Carlyle Group

Acquisition Highlights
  • This is Apollo Global Management’s 3rd transaction in the Packaging sector.
  • This is Apollo Global Management’s 85th transaction in the United States.
  • This is Apollo Global Management’s 1st transaction in South Carolina.

M&A Deal Summary

Date 2022-02-14
Target Novolex
Sector Packaging
Buyer(s) Apollo Global Management
Sellers(s) The Carlyle Group
Deal Type Secondary Buyout
Advisor(s) Credit Suisse Investment Banking
Goldman Sachs (Financial)
Latham & Watkins
Nelson Mullins Riley & Scarborough (Legal)

Target

Novolex

Hartsville, South Carolina, United States
website
Novolex is a manufacturer of paper and plastic flexible packaging products. Novolex serves customers across foodservice, grocery, retail, and industrial end markets with a diverse product portfolio including retail and specialty bags, food packaging products, and a broad range of specialty films and laminated products. Novolex was founded in 2003 and is headquartered in Hartsville, South Carolina.

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Buyer(S) 1

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.


DEAL STATS #
Overall 119 of 133
Sector (Packaging) 3 of 3
Type (Secondary Buyout) 25 of 28
State (South Carolina) 1 of 1
Country (United States) 85 of 97
Year (2022) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-31 Care Fertility

Nottingham, United Kingdom

Care Fertility is a fertility services provider. The company operates nine CARE branded clinics and 13 satellite facilities providing extensive coverage across the UK and the Republic of Ireland. CARE Fertility was founded in 1997 and is based in Nottingham. United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-23 Tenneco

Lake Forest, Illinois, United States

Tenneco is a designer, manufacturer and marketer of clean air and ride performance products and systems for the automotive and commercial vehicle original equipment markets. Tenneco was founded in 1996 and is based in Lake Forest, Illinois.

Buy $7.1B

Seller(S) 1

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 376.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 423 of 443
Sector (Packaging) 5 of 5
Type (Secondary Buyout) 99 of 114
State (South Carolina) 2 of 2
Country (United States) 240 of 250
Year (2022) 3 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-11 Orsini Specialty Pharmacy

Elk Grove Village, Illinois, United States

Orsini Specialty Pharmacy is an independent specialty pharmacy focused on rare diseases, gene therapies, and complex conditions. Orsini's high-touch care model centers around experienced, therapy-specific care teams that provide personalized care to patients based on their specific conditions and treatments. Orsini Specialty Pharmacy was founded in 1987 and is headquartered in Elk Grove Village, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-11 Dainese

Molvena, Italy

Dainese is protection equipment and apparel retailer for motorcycling and other dynamic sports. The company owns three powerful brands (Dainese, AGV, and TCX) synonymous with innovation and technical excellence. Dainese was formed in 1972 and is based in Molvena, Italy.

Buy -