Blackstone acquires Sustana Group

Blackstone has announced that funds managed by its Blackstone Tactical Opportunities business, New York, have acquired Sustana Group, a manufacturer of sustainable recycled fiber, paper and packaging products based in De Pere, Wisconsin.

The financial terms of the agreement were not disclosed.

“Blackstone’s investment is a strong endorsement of our company and our highly talented team, and launches an exciting new chapter for Sustana,” says Fabian De Armas, CEO and chairman of 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.”

Sustana uses postconsumer materials and environmental sustainability standards to produce a suite of recycled fiber, paper and packaging solutions throughout North America, servicing what it calls a diversified customer base through four facilities, which Sustana says “have leading energy efficiency, water conservation systems, wastewater treatment technology and recycling of process byproducts.”

“The increasing focus on environmental sustainability by businesses and consumers alike it one of Blackstone’s highest conviction investment themes,” says Andrea Serra, managing director at Blackstone. “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.”