Enhanced Capital Provides $10.5MM to Carthage Specialty
Enhanced Small Business Investment Company (ESBIC), an affiliate of Enhanced Capital Partners, announced it provided $10.5 million in subordinated secured debt financing to Carthage Specialty Paperboard and Climax Manufacturing Company.
Climax will use the proceeds of the transaction to refinance existing debt and fund a capacity expansion project at its paper mill.
“We are excited to support the growth of Climax as it continues to build upon its best-in-class product offering,” said Barry Osherow, managing director at Enhanced Capital. “This transaction will position Climax to expand its production capacity.”
“Enhanced Capital demonstrated its flexibility and speed throughout the entire process,” said Ted Cordes, CFO of Climax. “We are looking forward to working with the Enhanced Capital team over the coming years.”
With operations in Lowville, New York and Carthage, New York, Climax is a manufacturer of specialty paperboard, folding cartons and custom packages.