Blackstone-backed Sustana Group combines with Hanna Paper

• Founded in 1977, Hanna processes 300,000 tons of paper annually through its eight recovery facilities across North America
• Based in De Pere, Wisconsin, Sustana is a manufacturer of premium, sustainable recycled fiber, paper and packaging products
• Blackstone Tactical Opportunities acquired Sustana in 2021

Sustana Group, a portfolio company of Blackstone, has combined with Hanna Paper, a Toronto-based high-grade paper recycling company. No financial details of the transaction were disclosed.

Founded in 1977, Hanna processes 300,000 tons of paper annually through its eight recovery facilities across North America. The company employs about 200 employees and services more than 1,000 customers.

Based in De Pere, Wisconsin, Sustana is a manufacturer of premium, sustainable recycled fiber, paper and packaging products.

“Today marks an exciting milestone for Sustana and the long-term stability of our supply chain,” said Fabian de Armas, CEO of Sustana, in a statement. “We are steadfast in our commitment to sustainability, and we are thrilled to welcome Hanna, a long-time leader in our industry, to the Sustana family. We look forward to growing together with Hanna and its team as we continue to deliver on our vision of a circular economy.”

The Blackstone Tactical Opportunities business of Blackstone acquired Sustana in 2021 by from HIG Capital.