Los Angeles, California, USA, and Paris, France – 23 June 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, 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. Established in 2005, OpenGate Capital is a global company with headquarters in Los Angeles, California, USA, and a principal office in Paris, France. OpenGate is served by a seasoned team of mergers and acquisitions and operating professionals who bring the skills needed to acquire, operate, and build successful companies. The partners of OpenGate have executed more than 100 transactions worldwide, ranging from corporate divestitures, turnaround acquisitions, industry consolidations, and other special situations investments across a wide array of industries and geographic markets. For more information about OpenGate Capital, visit www.opengatecapital.com.
Fusion Paperboard manufactures, converts, and markets boxboard of 100% recycled fibers. With a paper mill in Versailles, Connecticut, and a converting facility located in Hebron, Kentucky, Fusion Paperboard innovates and develops paperboards that enable customers to revolutionize their packaging offerings.