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KKR invests in film packaging firm Charter Next Generation
Bolhous
Investment firm KKR is buying a stake in film packaging maker Charter Next Generation Inc., and as part of the deal employees of the specialty extrusion firm will be given the opportunity to acquire ownership stakes.
Terms were not disclosed, but the companies said in a May 6 statement that KKR will be joining private equity firm Leonard Green & Partners LP as an equal co-owner of CNG. As well, a unit of the Abu Dhabi Investment Authority is investing to become a minority owner. We are looking forward to investing in the company s growth as they continue to raise the bar in innovation and sustainability, said Josh Weisenbeck, a KKR partner who leads the investment fund s industrials investment team.
Custom film extruders combine to create Charter Next Generation
Kathy Bolhous will be chair and CEO of the merged company.
Charter NEX Films Inc. and Next Generation Films Inc. announced a merger a year ago but said both brands would remain in place. Now the merger is complete and the companies have united under a single brand: Charter Next Generation.
Dave Frecka, who owned Lexington, Ohio-based Next Generation Films prior to the merger, retired in November. Kathy Bolhous, who was CEO of Milton, Wis.-based Charter NEX prior to the merger, is now chairman and CEO of Charter Next Generation.