The Carlyle Group has agreed to buy packaging company Novolex from Wind Point Partners and TPG in a deal that could be valued at around $2.5 billion, according to an earlier Wall Street Journal report. Novolex, a manufacturer of plastic and paper shopping bags and other various products, has been majority owned by Wind Point since 2012 and backed by TPG since 2009. Over the past four years, it has grown its revenue from $500 million to more than $2 billion.
In a separate deal, Carlyle has agreed to buy a majority stake in CMC Networks, a South African provider of managed connectivity solutions for telecommunications operators. The seller is Investec Equity Partners, although the firm's founder and management will invest alongside Carlyle as part of the transaction.