Dive Brief:
- H.I.G. Capital LLC, a private-equity firm, announced that one of its affiliate firms finalized the recapitalization of Fox River Fiber, a pulp manufacturer based in De Pere, WI.
- Fox River Fiber will merge with Rolland Enterprises Inc., a manufacturer of recycled fibers based in Quebec.
- Fox River recycles post-consumer fibers, which are sold to paper mills where the materials are transformed into paper, tissue and towels.
Dive Insight:
Greg Archambault, the CEO of Fox River said, “This transaction sets Fox River up for significant growth over the next few years, benefiting employees, suppliers and customers.” The company expects to expand its reach as a result of the deal.
H.I.G. also owns Caraustar Industries Inc., a recycled boxboard producer. In July 2014, Caraustar announced its plans to acquire Newark Group- a fabricator of recycled paperboard. The deal was finalized in February, 2015.
