Capstone Partners acted as exclusive financial advisor to NewPage Corporation in the sale of its Niagara, Wisconsin coated groundwood paper mill site to Niagara Development LLC.
NewPage was the largest coated paper manufacturer in North America and a portfolio company of Cerberus Capital Management, L.P.
NewPage retained Capstone Partners to seek a buyer for the mill.
NewPage planned to shut the mill permanently unless a buyer could be found to operate it on grades other than coated publication papers.
Capstone Partners worked with management to develop a business plan to transition the mill to a new product line and solicited investors for the project.
Our efforts resulted in the sale to Niagara Development, which had acquired a number of former industrial properties with various development plans to maximize both land and site assets.
The transaction structure limited the parties’ financial exposure to unknown environmental liabilities.
The sale represented Capstone Partners third transaction for NewPage.
