Private equity firm the Riverside Co. has acquired Be Green Packaging.
Santa Barbara, Calif.-based Be Green designs and manufactures products and packaging for consumer goods that aim to be environmentally-friendly. The company’s packaging products are tree-free, compostable and recyclable, and made from materials including bamboo, bulrush, wheat straw, sugarcane and rice husk. Terms of the deal were not disclosed.
Riverside plans to expand the company through investing heavily in U.S. manufacturing and improving sales and marketing.
Medley Capital provided financing for the deal, while Jones Day provided legal advice.
New York and Cleveland-based Riverside was named Mergers & Acquisitions Private Equity Firm of the Year for 2012. The firm closed a $1.5 billion fund in January.
The firm’s recent investments include AVS Tax Inc. and Hart Property Consultants, which were added to Paradigm Tax Group in January, and Mercareon, which the firm added to transport-management software provider Transporeon.