Ropes & Gray Represents H.I.G. Capital in the Sale of Caraustar Industries, Inc. to Greif, Inc.

Ropes & Gray represented H.I.G. Capital in its sale of Caraustar Industries, Inc., a leading recycled paperboard and packaging solutions company, to Greif, Inc. in a cash transaction valued at $1.8 billion. The transaction, announced on Dec. 20, is expected to close during the first quarter of 2019, subject to customary closing conditions.

Caraustar, based in Austell, Ga., is a market leader in the production of uncoated and coated recycled paperboard, with a variety of applications that include tubes and cores and a diverse mix of specialty products. Caraustar’s footprint includes over 80 operating facilities throughout the United States.

The Ropes & Gray team was led by private equity partners Michael Roh and Daniel Evans, finance partner Stefanie Birkmann, benefits partner Alexandra Alperovich and private equity associate Jessica Cooney.