The trio of paper recycling plants that had been established by the former company of Papiers Rolland-two in Saint-Jérôme and one in Lévis-pass into the fold of the huge American investment firm Blackstone.
This change of ownership for this important trio of factories in the Quebec paper recycling industry results from the acquisition of the American company Sustana, based in Wisconsin, by the Blackstone Tactical Opportunities subsidiary of the giant Blackstone.
With US $ 730 billion in assets under management, Blackstone is one of the world’s largest managers of so-called “alternative” assets, i.e. capital invested in private placements in the development of businesses and infrastructure. and real estate.
Blackstone Tactical Opportunities has just acquired Sustana from Miami-based investment firm HIG Capital. It had owned it since its acquisition of the assets of the former Papiers Rolland from the Quebec paper company Cascades, in 2014.
Since that acquisition, the trio of paper recycling plants formerly identified with Rolland Papers had been integrated into the Sustana business, which operates a recycled pulp mill in the state of Wisconsin.
In Quebec, Sustana’s industrial assets include a recycled pulp mill in Lévis with around fifty employees – better known locally as Breakey Fibers – and the two recycled fiber paper manufacturing and packaging plants for the printing which are located in Saint-Jérôme in the Lower Laurentians, and which have approximately 450 employees.
As a whole, this trio of Quebec factories in Sustana has a production capacity of 100,000 tonnes per year of dry pulp from recycled paper. and 160,000 tonnes per year of recycled fiber paper for use in digital printing.
What will be the fate of its industrial assets and their workforce within Blackstone? Especially since they occupy an important place in the paper recycling industry in Quebec?
Very favorable, in the opinion of Sustana CEO Fabian De Armas.
“Blackstone’s investment demonstrates real recognition of our company and our highly talented team and begins an exciting new chapter for Sustana,” he said in a press release sent to Press.
“Our team has built a leading sustainability platform in our markets, and Sustana is well positioned for continued and robust growth in partnership with Blackstone. ”
Also optimistic response from senior management at Blackstone. “A business and consumer focus on environmental sustainability is one of the pillars of Blackstone’s investments,” said Andrea Serra, Managing Director at Blackstone, in a statement to Press.
“Sustana is a growth leader in recycled fiber paper. We look forward to working with the company and its management team to continue to drive the acceleration of its expansion. ”