Secondary Buyout • Forest Products

The Blackstone Group Acquires Sustana

On December 1, 2021, private equity firm The Blackstone Group acquired forest products company Sustana from H.I.G. Private Equity

Acquisition Context
  • This is The Blackstone Group’s 1st transaction in the Forest Products sector.
  • This is The Blackstone Group’s 192nd transaction in the United States.
  • This is The Blackstone Group’s 2nd transaction in Wisconsin.

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M&A Deal Summary

Date December 1, 2021
Target Sustana
Sector Forest Products
Buyer(s) The Blackstone Group
Sellers(s) H.I.G. Private Equity
Deal Type Secondary Buyout

Target Company

Sustana

De Pere, Wisconsin, United States
Sustana is a manufacturer of premium de-inked recycled pulp from post-consumer waste and manufacturer of sustainable recycled fibers, paper, and packaging of the highest quality de-inked recycled pulp for use in the production of writing paper, tissue paper, and FDA-compliant products. Sustana was founded in 1992 and is based in De Pere, Wisconsin.
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Buyer Overview 1

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 394.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.


Deal Context for Buyer #
Overall 304 of 366
Sector: Forest Products 1 of 1
Type: Secondary Buyout 66 of 91
State: Wisconsin 2 of 2
Country: United States 192 of 232
Year: 2021 26 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 IRTH Solutions

Columbus, Ohio, United States

IRTH Solutions is a provider of software and services to the underground utility damage prevention industry. Irth's customers include blue-chip utilities, telcos, pipeline operators and municipalities. Irth's software enables its customers to receive underground construction activity notifications from One Call Centers electronically via irth’s software, replacing traditional fax and email delivery methods with electronic screen notifications efficiently and accurately using geographic information systems (GIS) to streamline the customer's ticket management process. IRTH Solutions was founded in 1985 and is based in Columbus, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-07 Cloudreach

London, United Kingdom

Cloudreach is a cloud computing consultancy, focused on the implementation and operational support of public cloud services, including Amazon Web Services, Microsoft Azure, and Google Cloud Platform. Cloudreach was founded in 2009 and is based in London, England.

Sell -

Seller Profile 1

SELLER

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.


Deal Context for Seller #
Overall 141 of 184
Sector: Forest Products 2 of 2
Type: Secondary Buyout 53 of 76
State: Wisconsin 1 of 1
Country: United States 101 of 126
Year: 2021 18 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-09 Leiters

Englewood, Colorado, United States

Leiters is a registered 503B outsourcing provider of high-quality hospital and ophthalmology compounded sterile preparations. It is committed to providing healthcare professionals and their patients with critically needed outsourced medications. Leiters was founded in 1926 and is based in Englewood, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-03 Time Manufacturing

Waco, Texas, United States

Time Manufacturing is a global manufacturer of bucket trucks, digger derricks, cable placers, truck bodies, buckets, and other specialty equipment for the electric utility, telecommunications infrastructure, bridge inspection, tree care, and other fleet-supported industries. Selling via the Versalift, BrandFX, Aspen Aerials, Ruthmann, Steiger, Ecoline and Bluelift brands. Time Manufacturing was founded in 1965 and is based in Waco, Texas.

Buy -