Atlas Holdings Announces the Sale of Novipax and Formation of NPX ONE; ACON Investments Acquires Novipax Absorbent Pads Business; Novipax Tray Business Renamed NPX ONE
Atlas Holdings announced today the sale of Novipax, the leading producer of absorbent pads in the United States to ACON Investments, L.L.C. ACON is an international private equity investment firm based in Washington, DC. The trays business, previously part of Novipax, is not included in the transaction and will now be known as NPX ONE. Terms were not disclosed.
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Novipax was established by Atlas in 2015 to acquire the North American Foam Trays and Absorbent Pads (TAP) businesses of Sealed Air Corporation (NYSE:SEE). In 2016, Novipax completed the acquisition of Paper Pak Industries, a leader in the higher technology active pads space. During the Atlas ownership period, Novipax established itself as the leading producer and technological leader in absorbent pads and one of the top manufacturers of food packaging trays in the United States. Included in the sale to ACON are Novipax's absorbent pad manufacturing facilities in Grenada, MS; La Verne, CA; Paxinos, PA; Rockingham, NC and its headquarters in Oak Brook, I...