Novolex, a provider of packaging choice and sustainability, has completed the acquisition of the business of Flexo Converters USA Inc. and certain of its affiliates. Novolex is a Carlyle Group portfolio company.

Flexo, a family-owned business headquartered in Meriden, CT, manufactures and distributes stock, custom and recycled paper bags and sacks. Flexo products will be sold under the Novolex Duro Bag brand. The addition of Flexo products to the Duro portfolio of bags and sacks will enable Duro to immediately support customer demand through Flexo’s production capacity and proximity to customers.

Peakstone was exclusive financial advisor to Flexo on this transaction.