H.I.G. Capital has teamed with management to complete the acquisition of the Cascades Fine Papers Group from Cascades, Inc. The company will be re-named Rolland Enterprises, the former name of the business prior to joining Cascades, Inc.
Rolland is the market leader in the production of specialty fine papers using recycled fibers and the undisputed highest standards for environmental sustainability. The company produces fine papers with up to 100% post-consumer waste content and targets a diversified base of customers in commercial, B2B, government and education segments. Additionally, CFPG also has a long history as a leading producer of security papers, including paper used in passports, visas, tax stamps and checks. The company is headquartered in Saint-Jérôme, Quebec (no website found).
“This transaction provides stability and growth opportunities for all Rolland employees, customers, and suppliers. We are excited about the future of the business and the partnership with H.I.G,” said Daniel Parrot, President and COO of Rolland Enterprises.
Assets included in the sale include the Rolland paper mill and converting center in Saint-Jérôme, Quebec, as well as the deinking facility in Breakeyville, Quebec. The fully vertically integrated platform enables the company to control quality and cost while maintaining its reputation for superior product performance.
“The company is the industry leader with a long track record of producing innovative, high-quality products and the highest level of environmental sustainability. We are pleased to support the team in their growth and continued success,” said Ricky Stokes, Managing Director of H.I.G. Capital.
H.I.G. Capital specializes in providing capital to small and medium-sized companies and invests in management-led buyouts and recapitalizations of manufacturing or service businesses. H.I.G. Capital has more than $15 billion of capital under management. The firm was founded in 1993 and is based in Miami with additional offices in Atlanta, Boston, Chicago, Dallas, New York, San Francisco, London, Hamburg, Madrid, Milan, Paris, and Rio de Janeiro (www.higcapital.com).
2014 PEPD • Private Equity’s Leading News Magazine • 7-2-14