The Newark Group, a leader in the collection of secondary fibers and the manufacturing and converting of 100% recycled paperboard in the U.S. and Canada, announced the company has completed a $186 million refinancing transaction. The company successfully raised debt financing consisting of an undrawn $50 million ABL revolving credit facility, an $80 million first lien term loan, and a $56 million second lien term loan.

“This is a significant enhancement for the Newark Group. It permits the company to invest in equipment, technology and talent,” said Frank Papa, Newark CEO and president. He added, “The refinancing increases the countless capabilities in paperboard design and functionality that we can offer our customers and vendors.”

Newark CFO Gregg Kam commented on the transaction stating, “The successful completion of the refinancing represents a vote of confidence in Newark's strategic vision and represents another step in the company’s operational and financial transformation.”

Moelis & Company served as exclusive financial advisor on the transaction. Lowenstein Sandler LLP served as Newark’s legal advisor.

The Newark Group is a leader in integrated manufacturing of 100% recycled paperboard and paperboard products in the U.S. and Canada. The company supplies the raw material used to produce products, making it a self-sustaining, environmentally sound company.