Caraustar Industries, Inc., a portfolio company of H.I.G. Middle Market, has completed the 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, New Jersey, The Newark Group has approximately 1,500 employees and operates over 20 manufacturing facilities across North America.
Financing for the transaction was provided by Credit Suisse Securities (USA) LLC, Jefferies LLC, Wells Fargo Capital Finance and Regions Business Capital.
Published in the April 2015 Edition of American Recycler News