Packager Novolex, backed by Wind Point Partners, has purchased Heritage Bag Company for an undisclosed amount. TPG Growth also owns a minority stake in Novolex.

Heritage, based in Roanoke, Texas, manufactures trash bags, food storage bags, medical waste bags and ice bucket liners. Wind Point acquired a majority stake in Novolex in 2012 and TPG purchased its minority stake in 2015.

Novolex has made a few add-on acquisitions of other packaging companies including: Duro Bag, Packaging Dynamics, both in 2014 and Wisconsin Film & Bag in 2015. “The HBC team and products are a great fit for Novolex that will allow us to integrate our existing can liner business,” says Novolex CEO Stan Bikulege. Novolex, located in Hartsville, South Carolina, makes grocery bags, coffee sleeves and garbage bags.

Packaging targets have received strong buyer interest. Bemis Co. Inc. (NYSE: BMS) acquired SteriPack Goup’s medical packaging division; CCL Industries Inc. said it will add Checkpoint Systems Inc. (NYSE: CKP); and Charter Nex Films Inc. purchased Optimum Plastics Inc.

Bank of America Merrill Lynch and Haynes and Boone LLP advised Heritage. DLA Piper LLP along with Nelson Mullins Riley & Scarborough advised Novolex. Antares Capital and CPPIB Credit Investments III Inc. provided debt financing.