Private equity Beringea LLC has invested in Fiber By-Products Corp. (FPB) as part of a recapitalization deal that is expected to help the wood recycling company expand.
Financial terms were not disclosed.
Headquartered in White Pigeon, Mich., FPB is a family-owned business that disposes wood products and processes them into various consumable products, including animal bedding, boiler fuel and mulch.
FBP was founded in 1992 by the Schrock family in Goshen, Ind.
Earlier in June, Detroit-based Beringea sold portfolio company Pioneer Surgical Technology to RTI Biologics, a provider of orthopedic and other biologic implants for $130 million. Marquette, Mich.-based Pioneer Surgical is a maker of products for the spine, biologics, orthopedics, and cardiothoracic markets.