Enhanced Capital Partners’ ESBIC provides $10.5 mln to Carthage Specialty Paperboard and Climax

Carthage Specialty Paperboard and Climax Manufacturing Company have received $10.5 million in subordinated secured debt financing from Enhanced Small Business Investment Company. Based in New York, Carthage and Climax are makers of specialty paperboard. ESBIC is a unit of Enhanced Capital Partners.


NEW YORK, Oct. 14, 2013 /PRNewswire/ — Enhanced Small Business Investment Company, LP (“ESBIC”), an affiliate of Enhanced Capital Partners, Inc. (“Enhanced Capital”), announced today it provided $10.5 million in subordinated secured debt financing to Carthage Specialty Paperboard, Inc. and Climax Manufacturing Company (“Climax”). With operations in Lowville, New York and Carthage, New York, Climax is a manufacturer of specialty paperboard, folding cartons, and custom packages. Climax will use the proceeds of the transaction to refinance existing debt and to fund a capacity expansion project at its paper mill.
“We are excited to support the growth of Climax as it continues to build upon its best-in-class product offering,” said Barry Osherow, Managing Director at Enhanced Capital. “This transaction will position Climax to expand its production capacity.”
“Enhanced Capital demonstrated its flexibility and speed throughout the entire process,” said Ted Cordes, CFO of Climax. “We are looking forward to working with the Enhanced Capital team over the coming years.”
About Enhanced Capital
ESBIC is a SBIC fund set up for the purpose of providing debt and minority equity financing to U.S.-based lower middle market companies. Enhanced Capital, headquartered in New York City, is a diversified private investment firm focused on established small and mid-sized companies overlooked by traditional sources of capital due to location or size. For more information, please visit www.enhancedcapital.com or call Barry Osherow at (212) 207-3385.