OpenGate Capital has acquired two boxboard-manufacturing subsidiaries of Cascades Inc., the firm said Friday. The two subsidiaries, based in Kentucky and Connecticut, will operated under the brand name Fusion Paperboard. Financial terms of the deal were not released. OpenGate Capital is based in Los Angeles.
OpenGate Capital, a global private equity firm, has closed its acquisition of two boxboard-manufacturing subsidiaries of Cascades Inc. (Toronto Stock Exchange: CAS). The two subsidiaries will operate under the unified brand name, Fusion Paperboard, and will continue conducting business from Hebron, KY and Versailles, CT with existing management.
Andrew Nikou, Founder and Managing Partner of OpenGate Capital, said, “This closing marks both a significant addition to our wood and paper portfolio, and an exciting new beginning for Fusion Paperboard. We look forward to working closely with management to enhance its operations, continue its legacy of innovation, and capitalize on growth opportunities in the recycled packaging market.”
About OpenGate Capital
OpenGate Capital is a global private equity firm focused on acquiring controlling interests in businesses with solid fundamentals that exhibit opportunities for operational improvements and growth. Established in 2005, OpenGate Capital has a global footprint with headquarters in Los Angeles, California and a principal office in Paris, France. OpenGate is served by a seasoned team of M&A and operating professionals who bring the skills needed to acquire, operate, and build successful companies. The partners of OpenGate have executed more than 100 transactions worldwide ranging from corporate divestitures, turnaround acquisitions, industry consolidations and other special situations investments across a wide array of industries and geographic markets. For more information about OpenGate Capital, please visit www.opengatecapital.com.
About Fusion Paperboard
Fusion Paperboard manufactures, converts and markets boxboard, a thin, rigid board of 100% recycled fibers used to make cartons or boxes for cereal, frozen food, and other consumer products. With a paper mill in Versailles, CT, and a converting facility located in Hebron, KY, Fusion Paperboard innovates and develops paperboards that enable customers to revolutionize their packaging offerings.