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H.I.G. Capital Affiliate Completes Acquisition of the Cascades Fine Papers Group from Cascades, Inc.

Thursday, July 03, 2014

Press release from the issuing company

MIAMI - H.I.G. Capital, LLC ("H.I.G."), a leading global private equity investment firm, announced today that an affiliate has teamed with management to complete the acquisition of the Cascades Fine Papers Group ("Rolland" or the "Company") from Cascades, Inc. The Company will be re-named Rolland Enterprises, the former name of the business prior to joining Cascades, Inc.

Headquartered in Saint-Jérôme, Quebec, Rolland is the market leader in the production of specialty fine papers using recycled fibers and the undisputed highest standards for environmental sustainability. The Company produces fine papers with up to 100% post-consumer waste content and targets a diversified base of customers in commercial, B2B, government and education segments. Additionally, CFPG also has a long history as a leading producer of security papers, including paper used in passports, visas, tax stamps and checks.

Rolland's facilities include the Rolland paper mill and converting center in Saint-Jérôme, Quebec, as well as the deinking facility in Breakeyville, Quebec. The fully vertically integrated platform enables the Company to control quality and cost while maintaining its reputation for superior product performance.

Ricky Stokes, Managing Director of H.I.G. Capital, said, "The Company is the industry leader with a long track record of producing innovative, high-quality products and the highest level of environmental sustainability. We are pleased to support the team in their growth and continued success."

Daniel Parrot, President and COO of Rolland Enterprises, added, "This transaction provides stability and growth opportunities for all Rolland employees, customers, and suppliers. We are excited about the future of the business and the partnership with H.I.G."

The current CFPG leadership team will remain largely intact. Pierre Guay, Richard Laramée and Marc Charbonneau will continue to be responsible for their respective facilities. Normand Champagne will be Vice-President of Sales and Marketing and Guy Beaudin Vice-President of Administration. Philip Rundle will be joining the executive team as CEO, and will focus on the sales and marketing efforts. Philip has extensive experience in the pulp and paper industry with roles as CEO of North American Operations for Mercury Paper / Oasis Brands as well as Vice-President of North America & Europe Brand Development at Kimberly Clark.


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