Private equity firm Pamplona Capital Management LLP is buying Charter Nex Films Inc. for an undisclosed amount.

Charter Nex makes polyethylene films used in the packaging of a wide range of products, including food and medicine.

Pamplona plans to grow the company organically and through add-on acquisitions. The firm is investing through its fourth fund, Pamplona Capital Partners IV LP, a $4 billion fund that closed earlier this year.

The deal marks an exit for private equity firm Mason Wells.

Morgan Stanley & Co. LLC acted as Pamplona's financial adviser, while Hogan Lovells US LLP provided legal advice. Houlihan Lokey Capital Inc. advised Charter Nex on the deal, while Quarles & Brady LLP acted as legal counsel.

The packaging sector has hosted many M&A transactions recently. In December, Pretium Packaging acquired Tri-Delta Plastics, and Sonoco's (NYSE: SON) deal for Weidenhammer Packaging Group for $383 million in August. 

For more, see Lenders Show Love for Packaging

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