Caraustar Acquired

摘要

An affiliate of H.I.C. Capital, LLC, a global private equity investment firm, has completed the acquisition of Caraustar Industries, Inc. Caraustar was majority owned by private investment funds managed by Wayzata Investment Partners LLC. In 2009, Wayzata led a group of bondholders in a pre-packaged Chapter 11 process in which Wayzata-managed funds acquired a majority ownership stake in Caraustar. The restructuring significantly reduced the debt burden and improved the balance sheet, according to the company. Since exiting bankruptcy, Caraustar has used its stronger balance sheet to drive operational improvement and increase profitability.