Capstone Partners acted as financial advisor to Sappi Fine Paper North America (SFPNA), a division of Sappi Limited, in the sale of its Muskegon, Michigan mill site to Melching, Inc.
The Muskegon mill manufactured coated printing papers on one paper machine with 170,000 metric tons of annual production capacity.
The site also included a former pulp mill and a converting facility.
SFPNA announced the closure of the mill in August 2009 and retained Capstone Partners to pursue buyers for the site.
Capstone Partners developed a business plan and solicited investors to convert the mill’s steam and power production assets into a standalone biomass power plant.
We also marketed the paper converting operation and worked with buyers focused on other redevelopment opportunities.
Melching, Inc. is a demolition, dismantling and industrial remediation services company located in Nunica, Michigan.
SFPNA is a preeminent producer of coated fine paper used in premium magazines, catalogues, books and high-end print advertising.
Sappi Limited, publicly traded on the Johannesburg stock exchange, is a global company headquartered in Johannesburg, South Africa with manufacturing operations on four continents in nine countries.
