- TM Capital acted as exclusive financial advisor to NewPage Corporation in the sale of its 2.0 MW Kimberly, Wisconsin hydroelectric facility on the Fox River to Kaukauna Utilities
- NewPage was the largest coated paper manufacturer in North America and a portfolio company of Cerberus Capital Management, L.P.
- The hydro facility was part of NewPage’s Kimberly coated paper mill, which NewPage had indefinitely shut in July 2008
- Kaukauna Utilities, a community-owned utility founded in 1912, owns and operates seven additional hydroelectric facilities on the Fox River with a total installed capacity of 23.0 megawatts
- TM Capital solicited buyers for the Kimberly facility in conjunction with its role as exclusive financial advisor for the proposed sale of Consolidated Water Power Company (CWPCo)
- The sale of the Kimberly Hydro facility represented TM Capital’s second transaction for NewPage
- TM Capital subsequently sold the Kimberly mill site to American Iron & Metal Company
For more information, contact our industrials team at: