CHICAGO, August 21, 2013 – Mesirow Financial acted as the exclusive financial advisor to Wausau Paper Corp. (“Wausau”) in the sale of its specialty paper business to Expera Specialty Solutions, LLC (“Expera Specialty Solutions”), a newly formed company sponsored by KPS Capital Partners LP (“KPS”), a New York-based private equity firm.
The transaction included Wausau’s manufacturing facilities in Mosinee and Rhinelander, Wisconsin. Simultaneously, Expera Specialty Solutions acquired Packaging Dynamics’ Thilmany Papers business unit, including manufacturing facilities in Kaukana and De Pere, Wisconsin. Packaging Dynamics Corporation is a portfolio company of Kohlberg & Company, a New York-based private equity firm.
Expera Specialty Solutions is the leading North American manufacturer of specialty paper products for use in the tape, pressure-sensitive release liner, industrial and food packaging segments. Expera Specialty Solutions’ manufacturing platform includes machines at four mills located in Rhinelander, Mosinee, Kaukauna and De Pere, Wisconsin.
Rocky Pontikes, a managing director of Mesirow Financial’s Investment Banking group, said, "We were honored to represent Wausau in this process. The transaction combines two best-in-class specialty paper companies. Our deep experience within the specialty paper industry and strong relationships with financial sponsors allowed us to pair WPM with an experienced partner that is committed to WPM’s growth as part of Expera Specialty Solutions.”
The transaction represents another successful assignment completed by Mesirow Financial's Investment Banking group. Mesirow Financial is one of the most active advisors in the paper, plastics, packaging and specialty printing sectors, having completed nearly 100 transactions in recent years.
About Wausau Paper Corp.
Wausau Paper produces and markets a complete line of away-from-home towel and tissue products and is headquartered in Mosinee, Wisconsin and listed on the NYSE under the symbol WPP. To learn more about Wausau Paper, please visit wausaupaper.com.
About KPS Capital Partners, LP
KPS is the manager of the KPS Special Situations Funds, a family of investment funds with over $6.0 billion of assets under management. KPS seeks to realize significant capital appreciation by making controlling equity investments in companies across a diverse range of manufacturing industries. KPS portfolio companies have aggregate annual revenues of over $7.6 billion, operate 90 manufacturing facilities in 25 countries and employ approximately 31,000 associates, directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail at kpsfund.com.