Charter Next Generation Company Profile

Background

Overview

Charter Next Generation (CNG) is a leading provider of sustainable material science solutions in North America, specializing in high-performance specialty films and advanced materials for flexible packaging and other critical applications across the food, consumer goods, industrial, and healthcare markets. With 18 facilities across the United States and a workforce of over 2,600 employee-owners, CNG combines manufacturing excellence with innovation to address global challenges such as waste reduction, food preservation, and climate resilience.

Mission and Vision

CNG's mission is to "Enhance Lives for a Better World," focusing on delivering sustainable solutions that improve quality of life and promote environmental stewardship. The company's vision centers on advancing a low-carbon, circular economy through innovative material science and sustainable practices.

Industry Significance

As a recognized leader in sustainable material science, CNG plays a pivotal role in the flexible packaging industry, offering products that extend food shelf life, reduce waste, and support a circular economy. The company's commitment to sustainability and innovation has positioned it as a key player in addressing global environmental challenges.

Key Strategic Focus

Core Objectives

Sustainability Leadership: Integrate sustainability into all aspects of operations, from product development to manufacturing processes.

Innovation: Develop and deliver advanced material science solutions that meet evolving market needs.

Employee Ownership: Foster a culture of shared success through broad-based employee ownership.

Areas of Specialization

Flexible Packaging: Provide specialty films that enhance product protection and extend shelf life.

Sustainable Materials: Offer recyclable, compostable, and low-carbon films to support environmental goals.

Advanced Materials: Develop materials for diverse applications in food, consumer goods, industrial, and healthcare sectors.

Key Technologies Utilized

GreenArrow™ Portfolio: A line of sustainable films designed for recyclability and compostability.

Post-Consumer Recycled (PCR) Content: Incorporation of recycled materials into products to reduce environmental impact.

Advanced Manufacturing Techniques: Utilization of state-of-the-art equipment and processes to ensure product quality and efficiency.

Primary Markets Targeted

Food Industry: Packaging solutions that preserve freshness and reduce waste.

Consumer Goods: Materials that enhance product appeal and functionality.

Industrial Sector: Durable films for various industrial applications.

Healthcare: Packaging that ensures product safety and compliance with industry standards.

Financials and Funding

Funding History

In May 2021, KKR, a global investment firm, invested in Charter Next Generation, joining Leonard Green & Partners as an equal co-owner. This partnership aimed to support CNG's growth and innovation in the specialty films industry.

Total Funds Raised

Specific details regarding the total funds raised by CNG are not publicly disclosed.

Notable Investors

KKR: A leading global investment firm.

Leonard Green & Partners: A private equity investment firm.

Utilization of Capital

The capital raised has been utilized to expand manufacturing capacity, enhance product innovation, and support sustainability initiatives.

Pipeline Development

Key Pipeline Candidates

GreenArrow™ Sustainable Films: A portfolio of recyclable and compostable films designed to meet sustainability goals.

Advanced Material Solutions: Development of materials for diverse applications in food, consumer goods, industrial, and healthcare sectors.

Stages of Development

Product Development: Ongoing research and development to enhance product performance and sustainability.

Market Expansion: Introduction of products into new markets and applications.

Target Conditions

Environmental Sustainability: Addressing global challenges such as waste reduction and climate change.

Food Preservation: Extending shelf life to reduce food waste.

Anticipated Milestones

Product Launches: Introduction of new sustainable products to the market.

Sustainability Certifications: Achieving industry-recognized certifications for environmental performance.

Technological Platform and Innovation

Proprietary Technologies

GreenArrow™ Films: A line of sustainable films designed for recyclability and compostability.

Advanced Manufacturing Processes: Utilization of state-of-the-art equipment and techniques to ensure product quality and efficiency.

Significant Scientific Methods

Material Science Innovation: Development of advanced materials for diverse applications.

Sustainability Integration: Embedding sustainability into product design and manufacturing processes.

Leadership Team

Executive Profiles

Kathy Bolhous: Chairman and Chief Executive Officer. Since becoming CEO in 2010, Kathy has driven CNG's growth, elevating the company’s valuation from $58 million to approximately $5 billion as of 2023 through organic growth and strategic acquisitions. Her leadership has firmly established CNG as a market leader in advancing sustainability, circularity, and a low-carbon future.

Dan Niss: President. With 30 years in the industry, Dan has developed an extensive understanding of operations, R&D, raw materials, and sales. His exceptional ability to relate to and lead different types of people stems from his genuine appreciation for unique personalities.

Gregory Todd Jorgensen: Chief Financial Officer. Greg oversees all financial activities of CNG, including financial planning and analysis, financial reporting, accounting, tax, treasury, investor relations, and risk management, as well as the information technology department. He joined CNG in 2022 as Chief Accounting Officer and brings more than 20 years of leadership experience.

Lisa Alteri: Chief Operating Officer. Lisa is responsible for managing the company’s health and safety, quality, engineering, and a manufacturing network of 16 sites across North America.

Competitor Profile

Market Insights and Dynamics

The specialty films and material science solutions market is characterized by a growing demand for sustainable packaging solutions, driven by environmental regulations and consumer preferences for eco-friendly products. CNG's focus on sustainability and innovation positions it well to capitalize on these market trends.

Competitor Analysis

ORAFOL: A global manufacturer of self-adhesive products and reflective materials.

Poly-America: A producer of polyethylene products, including films and bags.

Minnesota Rubber and Plastics: Specializes in custom-engineered elastomer and thermoplastic solutions.

MOCOM Compounds: Provides thermoplastic elastomer compounds.

Strategic Collaborations and Partnerships

CNG's partnership with Ownership Works™ enhances its employee ownership culture, aligning individual contributions with company success. Additionally, the investment from KKR and Leonard Green & Partners supports CNG's growth and innovation initiatives.

Operational Insights

CNG's focus on sustainability, innovation, and employee ownership differentiates it from competitors, providing a strong competitive advantage in the market.

Strategic Opportunities and Future Directions

Strategic Roadmap

Sustainability Leadership: Continue to develop and promote sustainable products to meet environmental goals.

Market Expansion: Explore new markets and applications for existing products.

Innovation: Invest in research and development to drive product innovation and maintain industry leadership.

Future Business Directions

CNG aims to strengthen its position as a leader in sustainable material science solutions by expanding its product portfolio, enhancing manufacturing capabilities, and fostering a culture of innovation and employee ownership.