Caraustar Closes Major Paper Recycling Buy of Newark

Allan Gerlat, News Editor

February 24, 2015

1 Min Read
Caraustar Closes Major Paper Recycling Buy of Newark

Caraustar Industries Inc. has completed its purchase of major paper recycling firm The Newark Group Inc.

The Austell, Ga.-based recycled paper products company agreed last July to buy Newark, which is based in Cranford, N.J., employs about 1,500 and operates more than 20 North American manufacturing plants, according to a news release.

Newark Group makes recycled paperboard, linerboard, industrial tubes, cores and other converted products, including book covers and packaging solutions.

“We are excited to add The Newark Group to our company,” said Michael Patton, Caraustar president and CEO. “The combination of these two companies offers a compelling platform for future growth and will make us more competitive in the end use customer segments we serve.”

Caraustar makes recycled paperboard and converted paperboard products and is a portfolio company of Miami-based H.I.G. Capital.

Financing for the transaction was provided by Credit Suisse Securities (USA) LLC, Jefferies LLC, Wells Fargo Capital Finance and Regions Business Capital.


About the Author(s)

Allan Gerlat

News Editor, Waste360

Allan Gerlat joined the Waste360 staff in September 2011 as news editor. He was the editor of Waste & Recycling News for the first 16 years of its history, and under his guidance the publication won 27 national and regional awards.

Before Waste & Recycling News, Allan worked at another Crain Communications publication, Rubber & Plastics News, which covers rubber product manufacturing. He began with the publication as associate editor and eventually became managing editor, a position he held for nine years.

Allan is a graduate of Ohio University, where he earned a BS in journalism. He is based in Sagamore Hills, in northeast Ohio.

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