Press Release

Mesirow Advises ST Paper on its Acquisition of Verso’s Duluth Mill

  • ST Paper is a leading manufacturer of tissue, napkin, and paper towels for the away-from-home market

  • The acquisition will facilitate ST Paper’s growth

  • The acquisition executed by Mesirow highlights the firm’s expertise within the paper and packaging sectors

CHICAGO, May 24, 2021 – Mesirow acted as exclusive financial advisor to ST Paper & Tissue (“ST Paper” or the “Company”) on its acquisition of Verso Corporation’s (NYSE: VRS) (“Verso”) idled mill in Duluth, MN, effective May 13, 2021.

ST Paper is a leading manufacturer of tissue, napkin, and paper towels for the away-from-home market. Currently operating two tissue mills located in Oconto Falls, WI and Isle of Wight, VA, the Company is a quality source for away-from-home tissue products, offering exceptional customer service and an unparalleled commitment to sustainability and surrounding communities. ST Paper will convert Verso’s idled mill to produce tissue rather than the supercalendered papers produced by Verso, furthering the expansion of the Company’s tissue-manufacturing business.

“Mesirow was instrumental in securing the ideal outcome for the Company,” said Sharad Tak, Principal Owner of ST Paper. “We look forward to reviving the Duluth Mill, creating local job opportunities while carrying on our commitment to environmental responsibility within the Duluth community.”

John Chrysikopoulos, Managing Director of Mesirow Investment Banking, commented on the transaction, “We were pleased to have advised ST Paper throughout this process. We believe this acquisition will not only be beneficial for the Company’s growth, but also for the local business community and residents.”

The acquisition by ST Paper represents another successful assignment completed by Mesirow Investment Banking. Mesirow is one of the most active advisors in the paper, plastics and packaging sectors, having completed more than 150 transactions over the past 20 years. Committed to leveraging extensive sector-specific expertise across industry groups and nurturing deep long-standing relationships, Mesirow has a proven track record of completing highly tailored and successful transactions on behalf of clients.

About Mesirow
Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Global Investment Management, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our culture. To learn more, visit mesirow.com and follow us on LinkedIn.

Mesirow was recently named one of the Best Places to Work in Chicago by Crain’s Chicago Business and one of the Top Workplaces by the Chicago Tribune.

About ST Paper & Tissue
ST Paper manufactures tissue, napkin, and paper towels for the away-from-home market at two mills located in Oconto Falls, WI and Franklin, VA. Our products are produced from 100% recycled wastepaper into parent rolls of bath tissue, facial tissue, paper towels, and napkins. ST Paper & Tissue are at the forefront of the industry in our commitment to being a responsible steward for the environment and surrounding communities and have obtained a series of environmental certifications. Learn more at stpaperllc.com.

Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow investment vehicle(s). Mesirow Financial, Inc. is not affiliated with ST Paper & Tissue, Verso Corporation, or their affiliates. Past performance is not indicative of future results. Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates. Securities offered through Mesirow Financial, Inc. member FINRA, SIPC.

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