Family-owned and South Haven-based American Twisting Company has been sold to North Carolina-based Novolex. The announcement from Novolex this week states that the assets of the longtime supplier of paper cords and paper-covered wires have been acquired and will be integrated into their Duro Bag operations.
“American Twisting is an excellent addition to our company, and we welcome their skilled and committed team to the Novolex family. I’m confident that our long-standing relationship with American Twisting and their steadfast commitment to safety will ensure a smooth integration into Novolex operations,” said Stan Bikulege, Chairman and CEO of Novolex in a statement announcing the transaction.
Novolex describes itself as a leader in packaging innovation. They manufacture products with paper, plastic, and renewable materials for food packaging, delivery and carry-out, food processing, and industrial markets.
“We’re excited to be joining the Novolex family, which we know well given our long history of doing business together,” said Tom Phelps, co-owner of American Twisting. “Novolex has a strong tradition of welcoming independent businesses into its operations, and I’m certain that the business will continue to provide superior-quality materials and prosper as part of Novolex.”
The value of the transaction was not disclosed.
Until the transaction, American Twisting was a family-owned business in continuous operation for more than 100 years. The company is headquartered and has manufacturing facilities in South Haven. The company reportedly employs between 30 and 50 employees. The announcement states eligible full-time employees are expected to join Novolex.
Novolex is a portfolio company of Apollo, a global investment firm that acquired a majority of the company in April 2022. Novolex states it operates 56 manufacturing facilities in North America and Europe.
