Singapore markets close in 7 hours 9 minutes
  • Straits Times Index

    3,293.79
    +5.84 (+0.18%)
     
  • Nikkei

    28,530.85
    +197.33 (+0.70%)
     
  • Hang Seng

    24,288.13
    +70.10 (+0.29%)
     
  • FTSE 100

    7,611.23
    +68.28 (+0.91%)
     
  • BTC-USD

    42,299.82
    -618.20 (-1.44%)
     
  • CMC Crypto 200

    1,017.87
    -7.86 (-0.77%)
     
  • S&P 500

    4,662.85
    +3.82 (+0.08%)
     
  • Dow

    35,911.81
    -201.79 (-0.56%)
     
  • Nasdaq

    14,893.75
    +86.95 (+0.59%)
     
  • Gold

    1,820.80
    +4.30 (+0.24%)
     
  • Crude Oil

    84.51
    +0.69 (+0.82%)
     
  • 10-Yr Bond

    1.7720
    +0.0610 (+3.57%)
     
  • FTSE Bursa Malaysia

    1,542.92
    -12.41 (-0.80%)
     
  • Jakarta Composite Index

    6,645.05
    -48.35 (-0.72%)
     
  • PSE Index

    7,253.68
    +29.85 (+0.41%)
     

Blackstone Tactical Opportunities Announces Acquisition of Sustana, a Leading Manufacturer of Sustainable Recycled Fiber, Paper and Packaging

  • Oops!
    Something went wrong.
    Please try again later.
·3-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

DE PERE, Wisc. and SAINT-JÉRÔME, Quebec, December 01, 2021--(BUSINESS WIRE)--Blackstone (NYSE:BX) announced today that funds managed by its Blackstone Tactical Opportunities business ("Blackstone") have acquired Sustana Group ("Sustana" or the "Company"), a leading manufacturer of premium, sustainable recycled fiber, paper and packaging products, from an affiliate of H.I.G. Capital ("H.I.G.").

Headquartered in De Pere, Wisconsin, Sustana uses post-consumer materials and the high standards for environmental sustainability to produce a comprehensive suite of recycled fiber, paper and packaging solutions for customers throughout North America. It services a diversified customer base through four facilities, all of which have leading energy efficiency, water conservation systems, wastewater treatment technology and recycling of process by-products.

Andrea Serra, a Managing Director at Blackstone, said: "The increasing focus on environmental sustainability by businesses and consumers alike is one of Blackstone’s highest conviction investment themes – and we are proud to back Sustana, a fast-growing leader in this sector. We look forward to partnering with the company and its management team to continue accelerating their further expansion as they deliver leading sustainability products and solutions to their customers."

Fabian De Armas, CEO and Chairman of Sustana, said: "Blackstone’s investment is a strong endorsement of our Company and our highly talented team, and launches an exciting new chapter for Sustana. Our team has built a leading sustainability platform in our markets and Sustana is well positioned for robust continued growth in partnership with Blackstone."

TD Securities served as financial advisor to Blackstone, and Weil, Gotshal & Manges; Davies Ward PhillIps & Vineberg; and Simpson Thacher & Bartlett LLP served as legal advisors.

About Blackstone

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

About Sustana

Sustana Group, comprised of Sustana Fiber and Rolland, is committed to industry-leading product quality, continuous improvement and environmental stewardship – by innovating solutions that are better for business, better for the environment and better for society at large. Sustana Group is proud to provide a comprehensive, sustainable pulp and paper solution for customers throughout North America. For more information visit: https://www.sustanagroup.com/

View source version on businesswire.com: https://www.businesswire.com/news/home/20211201005954/en/

Contacts

For Blackstone:
Matt Anderson
matthew.anderson@blackstone.com
(518) 248-7310
OR
Mariel Seidman-Gati
mariel.seidmangati@blackstone.com
(917) 698-1674

For Sustana
USA
Bri Tarpey
Bri.Tarpey@edelman.com
(608) 807-9033

Canada
Cléa Bourgeois
Clea.Bourgeois@edelman.com
(514) 895-6193

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting