Private equity firm HIG Capital LLC has closed a deal for Caraustar Industries Inc., a company that provides recycled paperboard and other products.

Austell, Ga.-based Caraustar manufactures and converts recycled paperboard into tubes, cartons and types of paper.

Caraustar was majority owned by private investment funds managed by investment adviser Wayzata Investment Partners LLC. The funds bought a majority stake in 2009 when Caraustar went through a prepackaged Chapter 11 bankruptcy process.

Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, Jefferies LLC and Wells Fargo Capital Finance provided financing for the deal. Jefferies also served as Caraustar’s financial adviser, while Credit Suisse was HIG’s financial adviser.

HIG, headquartered in Miami, has more than $12 billion in capital under management. In April the firm closed a deal for Pegasus Financial Services, a company that processes commissions paid by hotels to travel agencies. In February, HIG closed a deal for Family Behavioral Resources and in October, closed a transaction for Inc.