Chicago-based private equity firm Wind Point Partners has secured a $140m senior credit facility from GE Antares to support its buyout of Hilex Poly Co, a US-based maker of plastic bag and film products.
Hilex recycles plastic bags into retail “t-shirt” bags through a closed-loop recycling process, and is involved in a number of green initiatives to increase the use of recycled content in its products.
The business has headquarters in Hartsville, South Carolina, in addition to nine manufacturing facilities and the largest closed loop plastic bag recycling plant in the US.
GE Capital Markets served as co-lead arranger and sole bookrunner on the deal.
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