Pamplona Capital Management, a global private equity investment firm, has announced an agreement to acquire Charter NEX Films.

The completion of the transaction is subject to customary conditions, including expiration of the applicable waiting period under the Hart-Scott-Rodino Act. It is expected to be completed during the first quarter of 2015.

Charter NEX Films is a producer of polyethylene films. It holds a steady position within flexible food and consumer product packaging, and growing positions in medical, pharmaceutical and industrial surface protection segments. One of its growth categories is stand-up pouches.

“We are delighted to be partnering with Pamplona,” says Kathy Bolhous, chief executive officer of Charter NEX. “We have worked hard over a number of years to become an industry-leader in specialty film products. Since NEX’s 2012 merger with Charter Films, we have accelerated our growth through infrastructure and capacity investments to establish one of the industry’s leading growth platforms. We look forward to continuing this focus on providing our customers with the highest quality products and service and investing for the future under Pamplona’s ownership.”

This transaction follows Pamplona’s acquisition last month of a majority stake in Intralign Holdings, a Scottsdale, Arizona-based healthcare company, and of Mobile, Alabama-based BBB Industries, a remanufacturer and distributor of automotive parts.

“Charter NEX is a first-class business and we are delighted to be partnering with an exceptional management team who have grown the company substantially over a number of years,” says Martin Schwab, the partner at Pamplona leading the transaction. “We believe there are significant opportunities to continue this growth both organically and through acquisitions and we are excited to be part of the business. Pamplona will work with management to accelerate the company’s growth ambitions by providing long-term financial and strategic support.”

Pamplona is investing its fourth private equity fund, Pamplona Capital Partners, a $4 billion investment vehicle, raised earlier this year. Morgan Stanley & Co. acted as financial advisor to Pamplona while Hogan Lovells US LLP acted as legal counsel.

Charter NEX was previously owned by private equity firm Mason Wells. Charter NEX was advised by Houlihan Lokey Capital with Quarles & Brady as legal counsel.