QUEBEC CITY—H.I.G. Capital, a global equity investment firm, partnered with CFPG management to purchase Cascades Fine Paper.

Company president and COO Daniel Parrot issued the following letter to its customers,


Dear Valued Customer,

As a valued client of Cascades Fine Papers Group, I want to provide you information regarding an announcement that was made earlier today. We announced that H.I.G. Capital, a leading global private equity investment firm has partnered with CFPG management to acquire Company from Cascades Inc. H.I.G. is a leading global private equity investment firm with more than $15 billion of equity capital under management. H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 80 companies with combined sales in excess of $30 billion.

The current CFPG leadership team will remain largely intact. I will continue to oversee operations as President and COO of Rolland; 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

The operating name of the new business will be Rolland Enterprises Inc., maintaining the rich and long history of the St-Jerome plant. The name Rolland has a strong reputation in the paper industry as providing the highest quality and driving innovation, and we will strive to uphold that reputation. The name also reinforces the Company's Quebec-heritage which has been key to our success to date and will continue to remain a vital piece of our identity.

We will ensure that we continue to provide you with the same level of excellent service that you expect from us, and we are eager to create new opportunities to serve you better by utilizing H.I.G.'s investment in the Company. There will be no change in our relationship as a result of this announcement. Over time, we believe that this acquisition will enhance your relationship with our company by providing you a supplier who is laser-focused on satisfying your needs.

If you have any questions about this partnership, please talk with your account representative or feel free to reach out to me directly. We appreciate the confidence you placed in CFPG and we look forward to our continuing relationship for many years in the future.