Latest Wood & Paper Industry Addition for Private Equity Firm; Acquired Operations Rebranded as Fusion Paperboard
Los Angeles, CA, and Paris, FRANCE – June 23, 2011 – 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 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.