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September 2, 2021

HIG affiliate buys recycled corrugated packaging manufacturer JPM

JPM produces fully recycled medium, corrugated sheets and digitally printed corrugated packaging.

An affiliate of global alternative investment firm HIG Capital has purchased Jackson Paper Manufacturing and Sustainable Corrugated (JPM).

Based in Sylva, North Carolina, JPM manufactures fully recycled corrugated packaging.

The vertically integrated company produces medium, corrugated sheets and digitally printed corrugated packaging.

It was established in 1995 and operates facilities in Sylva and Morganton, North Carolina, and Dalton, Georgia.

JPM employs more than 200 people and serves the south-eastern region of the US, as well as the e-commerce, food and beverage, durable and non-durable end-markets.

The financial terms of the transaction have not been disclosed.

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HIG managing director John Von Bargen said: “We believe JPM represents a compelling opportunity to invest in a differentiated provider of sustainable packaging solutions.

“The company’s integrated platform and focus on quality, innovation and service have increasingly positioned [it] as a value-added partner to its customers.

“We look forward to working with the team to build upon their success and support continued growth initiatives.

Following this acquisition, HIG will work with JPM’s existing management team to expedite opportunities for its growth.

JPM president Carr Tyndall said: “Over the last five years, we have made substantial strategic investments to evolve into an environmentally-focused, vertically integrated platform.

“Now more than ever, our customers are increasingly relying on us to deliver high-quality, customised solutions that support increasing end-user demand.

“We are excited to work with HIG Capital, which will enable us to grow our offerings for our customers.”

Based in Miami, Florida, HIG currently has $45bn of equity capital under management.

The company focuses on providing both debt and equity capital to small and mid-sized companies, using a ‘flexible, operationally focused, value-added’ approach.

Since its foundation in 1993, HIG has invested in and managed more than 300 companies worldwide.

The company’s current portfolio includes more than 100 companies, with combined sales of more than $30 billion.

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