Caraustar Industries Completes Acquisition of Newark Group
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Caraustar Industries Inc., Austell, Ga., USA, a portfolio company of H.I.G. Middle Market (Miami, Fla.), the dedicated middle market investment affiliate of H.I.G. Capital, has completed its acquisition of The Newark Group Inc.
The Newark Group is a manufacturer of recycled paperboard, linerboard, industrial tubes, cores, and other converted products, including book covers and packaging solutions. Headquartered in Cranford, N.J., USA, The Newark Group has approximately 1,500 employees and operates more than 20 manufacturing facilities across North America.
"We are excited to add The Newark Group to our company," said Caraustar President and CEO Michael Patton. "The combination of these two companies offers a compelling platform for future growth and will make us more competitive in the end-use customer segments we serve."
"We are pleased to support Michael Patton and his team as they continue building a best-in-class, integrated manufacturer of recycled paperboard and related products," added Tenno Tsai, a managing director of H.I.G. "We look forward to working with them to integrate Newark into Caraustar and continuing pursuit of our growth plan."
Caraustar Industries is an integrated producer of 100% recycled paperboard and converted paperboard products. Caraustar serves the four principal recycled boxboard product end-use segments: tubes and cores; folding cartons; gypsum facing paper, and specialty paperboard products.
