- TM Capital 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 TM Capital 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
- TM Capital 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 TM Capital’s third transaction for NewPage
Industrials | Mergers & Acquisitions