Private equity firms Leonard Green & Partners, L.P. (LGP) and Oak Hill Capital, owners of Charter NEX, have completed a definitive agreement with Dave Frecka, CEO, founder and owner of Next Generation Films, Inc. to combine the companies. Dave Frecka will be a major shareholder in the combined company and will continue as CEO of Next Generation Films. Kathy Bolhous will continue as the CEO of Charter NEX Films. The transaction is expected to close by June.