{"id":654276,"date":"2013-04-24T15:15:39","date_gmt":"2013-04-24T19:15:39","guid":{"rendered":"http:\/\/www.pehub.com\/?p=198229"},"modified":"2013-04-24T15:15:39","modified_gmt":"2013-04-24T19:15:39","slug":"packaging-dynamics-to-sell-thilmany-papers","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/654276","title":{"rendered":"Packaging Dynamics to Sell Thilmany Papers"},"content":{"rendered":"

Packaging Dynamics Corp.<\/strong> announced earlier this week that it had agreed to sell its Thilmany Papers<\/strong> business unit to KPS Capital Partners.<\/strong> Financial terms were not announced. Included in the deal are the Thilmany Papers\u2019 Nicolet and Kaukauna mills and Wausau Paper\u2019s Mosinee and Rhinelander mills, all of which are located in Wisconsin, as well as the output of Verso Paper\u2019s number five paper machine in Jay, Maine, a release dated April 22 said.<\/p>\n

PRESS RELEASE<\/p>\n

Packaging Dynamics Corporation (\u201cPackaging Dynamics\u201d), a leader in
\nflexible packaging and specialty papers, today announced the signing of a definitive agreement to sell its
\nThilmany Papers business unit to a new company to be formed and controlled by investment funds sponsored by
\nKPS Capital Partners L.P. (\u201cKPS\u201d).
\nWausau Paper has previously announced that it had signed a non-binding Letter of Intent to sell its Specialty
\nPaper business to this new company being formed by KPS.
\nFollowing the closing of these transactions, the new company will include Thilmany Papers\u2019 Nicolet and
\nKaukauna mills and Wausau Paper\u2019s Mosinee and Rhinelander mills, all of which are located in Wisconsin, as
\nwell as the output of Verso Paper\u2019s number five paper machine in Jay, Maine.
\nRoger Prevot, CEO of Packaging Dynamics, commented, \u201cThis is truly an extraordinary opportunity to contribute
\nour Thilmany Papers business to form a larger specialty papers company that will deliver lasting value to
\ncustomers, employees and to the communities in which it operates, and for us to focus exclusively on our
\nattractive downstream packaging and converting businesses.\u201d
\nSeth Hollander, a partner at Kohlberg & Company, commented, \u201cWe are pleased that our efforts to transform
\nThilmany\u2019s mill operations and to build a world-class organization have positioned the paper business to make
\nthis next step in its evolution.\u201d Kohlberg & Company acquired Thilmany from International Paper and
\nsubsequently combined it with Packaging Dynamics. Hollander added, \u201cWe look forward to operating Packaging
\nDynamics as a focused leader in its food packaging and specialty laminations end markets and continuing to grow
\nthose businesses organically and through additional acquisitions.\u201d
\nRuss Wanke, Vice President and General Manager of Thilmany Papers, commented, \u201cOur team here at Thilmany
\nis proud to be playing a critical role in the creation of a major new Wisconsin-based company. By combining
\nThilmany and Wausau\u2019s Specialty Paper Business, we and KPS are establishing one of the leading specialty paper
\ncompanies in North America. We believe the combination will result in a company with the product breadth and
\ncustomer reach to capitalize on the growing worldwide demand for specialty papers.\u201d
\nClosing of the Thilmany Papers transaction is conditioned upon the completion of the Wausau transaction,
\nratification of a new collective bargaining agreement between the new company and the United Steel Workers,
\nrequired regulatory clearances, and certain other customary closing conditions. While Packaging Dynamics
\nexpects to finalize the transaction in mid-2013, there can be no certainty or assurance about the timing, specific
\nelements or completion of a transaction.
\nAbout Packaging Dynamics
\nPackaging Dynamics is a leading flexible packaging and specialty papers company providing innovative solutions
\nto customers in each of its four business units \u2013 BagcraftPapercon, International Converter, De Luxe and
\nThilmany Papers. Packaging Dynamics is a portfolio company<\/p>\n

The post Packaging Dynamics to Sell Thilmany Papers<\/a> appeared first on peHUB<\/a>.<\/p>\n

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<\/p>\n","protected":false},"excerpt":{"rendered":"

Packaging Dynamics Corp. announced earlier this week that it had agreed to sell its Thilmany Papers business unit to KPS Capital Partners. Financial terms were not announced. Included in the deal are the Thilmany Papers\u2019 Nicolet and Kaukauna mills and Wausau Paper\u2019s Mosinee and Rhinelander mills, all of which are located in Wisconsin, as well […]<\/p>\n","protected":false},"author":7426,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-654276","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/654276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7426"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=654276"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/654276\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=654276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=654276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=654276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}