An affiliate of U.S. private equity firm HIG Capital has completed the recapitalization of Fox River Fiber LLC, a De Pere, Wisconsin-based manufacturer of premium de-inked recycled pulp produced using post-consumer waste paper. The transaction’s value was not disclosed. HIG said Fox River will also been combined with Rolland Enterprises Inc, a producer of ecological fine papers and security papers with headquarters in Saint-Jérôme, Quebec. Last July, HIG acquired Rolland Enterprises, formerly the fine papers division of Cascades Inc, for $39.5 million.
H.I.G. Capital Affiliate Completes Recapitalization of Fox River Fiber, LLC
MIAMI – March 17, 2015 – H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm, announced today that its affiliate has completed the recapitalization of Fox River Fiber, LLC (“Fox River” or the “Company”). Fox River will be combined with Rolland Enterprises Inc. (“Rolland”), a market leader in the production of recycled fine papers and security papers, which was acquired by an H.I.G. affiliate in 2014.
Headquartered in De Pere, WI, Fox River is a leading “green” manufacturer of premium de-inked recycled pulp produced using post-consumer waste paper. Fox River operates out of a highly automated state of the art facility. The Company’s products are sold to paper mills for use in printing and writing, tissue and towel, and Food and Drug Administration (“FDA”) grade recycled paper applications.
Ricky Stokes, Managing Director of H.I.G. Capital, said, “Fox River Fiber is an industry leader with a long track record of producing superior quality de-inked recycled pulp with the highest level of environmental sustainability and efficiency. Fox River and Rolland are highly complementary businesses. We are pleased to support the team in their growth and continued success.”
Greg Archambault, CEO of Fox River, said, “This transaction sets Fox River up for significant growth over the next few years, benefiting employees, suppliers and customers. We are excited about finding ways for Fox River and Rolland to work together to expand our footprint and provide a better experience for our customers.”
About Fox River Fiber, LLC.
Headquartered in De Pere, WI, Fox River Fiber is a leading manufacturer of premium de-inked recycled pulp from post-consumer waste. Its state of the art facility – the most advanced in the industry, highly automated proprietary processes, and computerized monitoring system allow for the manufacture of the highest quality de-inked recycled pulp for use in the production of writing paper, tissue paper, and FDA compliant products.
About Rolland Enterprises, LLC.
Headquartered in Saint-Jérôme, Quebec, Rolland is the market leader in the production of ecological fine papers and security papers. Rolland produces fine papers with 100% and 30% post-consumer fiber and security papers for applications including vital records, passports and visas. The Company maintains three facilities including a deinking facility in Breakeyville, Quebec, and a paper mill and converting center in Saint-Jérôme, Quebec.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with more than $17 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as on the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
Other H.I.G. funds invest in various real assets, including real estate and shipping.
Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
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