Climax Secures Financing to Expand Capacity at Carthage Paperboard Mill

Print this Article | Send to Colleague

Enhanced Small Business Investment Co. (ESBIC), New York, N.Y., USA, has provided $10.5 million in subordinated secured debt financing to Climax Manufacturing Co. With operations in Lowville, N.Y., and Carthage, N.Y. (Carthage Specialty Paperboard Inc. mill), Climax is a producer of specialty paperboard, folding cartons, and custom packages.

Climax will use the proceeds o fund a capacity expansion project at its Carthage paper mill and to refinance existing debt.

"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."

Back to TAPPI: Over The Wire