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

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.”
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