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M&A Deal Summary

TPG Acquires Novolex

On January 1, 2009, private equity firm TPG acquired packaging company Novolex

Acquisition Highlights
  • This is TPG’s 2nd transaction in the Packaging sector.
  • This is TPG’s 92nd transaction in the United States.
  • This is TPG’s 5th transaction in North Carolina.
Investment Fate
  • Novolex was sold to a consortium of financial buyers in 2012.
  • Novolex was sold to a consortium of financial buyers in 2016.
  • Novolex was sold to a consortium of financial buyers in 2022.

M&A Deal Summary
Date 2009-01-01
Target Novolex
Sector Packaging
Buyer(s) TPG
Deal Type Special Situations/Distressed

Target

Novolex

Charlotte, North Carolina, United States
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 Charlotte, North Carolina.

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Buyer(S) 1

Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 296.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.

DEAL STATS #
Overall 129 of 451
Sector: Packaging M&A 2 of 4
Type: Special Situations/Distressed M&A Deals 1 of 2
State: North Carolina M&A 5 of 11
Country: United States M&A 92 of 298
Year: 2009 M&A 1 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 3 Day Blinds

Irvine, California, United States

3 DAY BLINDS manufactures and sells custom window coverings in the U.S. Its products include wood blinds, faux woods, mini blinds, window murals, vertical blinds, honeycomb, woven woods, Roman shades, roller shades, shadings and sheers, and shutters. 3 Day Blinds offers products through its showrooms and network of in-home design consultants. The company was founded in 1978 and is based in Anaheim, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-02-10 Aleris International

Cleveland, Ohio, United States

Aleris International is a producer of aluminum rolled products and extrusions, aluminum recycling and specification alloy production. Major customers include some of the world’s largest companies in the aerospace, building and construction, containers and packaging, metal distribution, and transportation industries. Aleris serves these customers with its low-cost, flexible, technically advanced and strategically located manufacturing operations supported by industry-leading research and development.

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