OpenGate Capital Closes Deal with Cascades for Boxboard Plants

June 24, 2011 - OpenGate Capital said that it has closed its acquisition of two boxboard-manufacturing subsidiaries of Cascades Inc. The two subsidiaries will operate under the unified brand name, Fusion Paperboard, and will continue conducting business from Hebron, Kentucky and Versailles, Connecticut with existing management.

"This closing marks both a significant addition to our wood and paper portfolio, and an exciting new beginning for Fusion Paperboard," said Andrew Nikou, Founder and Managing Partner of OpenGate Capital. "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."

OpenGate Capital is a global private equity firm focused on acquiring controlling interests in businesses with solid fundamentals that exhibit opportunities for operational improvements and growth. The firm has headquarters in Los Angeles, California and a principal office in Paris, France.

SOURCE: OpenGate Capital

See related stroy:
» Cascades to Sell Two U.S. Boxboard Plants to OpenGate Capital (6/14/2011)