MOSINEE, Wis. (WSAU) -- The deal is done. Wausau Paper confirmed today that they have closed on the sale of their Mosinee and Rhinelander mills to Experia Specialty Solutions LLC, which is the new operating company formed by New York based private equity firm KPS Capital Partners L.P.
Wausau Paper gets about 105-million dollars in the deal, with Wausau Paper electing to put 67-million of that into retiring a revolving credit agreement obligation.
Mosinee and Rhinelander mills will continue making specialty papers, including many products for the food industry under the new ownership.
Expera Specialty Solutions also acquired the Thilmany mills in De Pere and Kaukauna from Packaging Dynamics Corporation, which are also in the specialty papers manufacturing market.