Wynnchurch Capital, L.P., acquired a majority of the assets of Appvion Holding Corp. and its subsidiaries as of Dec. 3, Appvion announced.
“This sponsorship will enable new investments, continued expansion, and additional resources that we collectively need to accelerate growth in our AMS and Packaging & Specialty Coatings businesses,” said George Wurtz, Appvion’s President, Chief Executive Officer and chairman of the board.
Wynnchurch Capital Partners L.P. manages a number of private equity funds with $4.2 billion of committed capital under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings. They focus on leveraging a business’s strengths and identifying new market opportunities to support management’s vision.
Also this month, De Pere-based paper manufacturer Sustana Group was acquired by the Blackstone Tactical Opportunities business of New York-based investment firm Blackstone, from an affiliate of HIG Capital.
“The increasing focus on environmental sustainability by businesses and consumers alike is one of Blackstone’s highest conviction investment themes — and we are proud to back Sustana, a fast-growing leader in this sector,” said Andrea Serra, a managing director at Blackstone.
Sustana operates mills in De Pere and Breakeyville, Quebec, and uses post-consumer materials to produce a suite of recycled fiber, paper and packaging solutions for customers throughout North America. Its four facilities all have leading energy efficiency, water conservation systems, wastewater treatment technology and recycling of process by-products.
