Industrial Opportunity Partners Acquires Midwest Paper in Wisconsin
Midwest Paper manufactures and distributes various grades of paper including recycled containerboard (medium and linerboard). The mill has an annual production capacity of 400,000 tons on three paper machines.
Jan. 9, 2020 - Industrial Opportunity Partners (“IOP”), an operations-focused private equity firm based in Evanston, Illinois, on Jan. 8 announced that it has acquired Midwest Recycled and Coated Containerboard Mill, LLC (“Midwest Paper” or the “Company”).
Terms of the transaction were not disclosed.
Midwest Paper is a paper mill headquartered in Combined Locks, Wisconsin. The company manufactures and distributes various grades of paper including recycled containerboard (medium and linerboard) for corrugated packaging, recycled bag products, and white paper for book publishing and printing/writing applications.
The mill has an annual production capacity of 400,000 tons on three paper machines. The company employs about 320 workers.
Dave Mackin, an IOP Operating Principal, will assume the position of Chairman of Midwest Paper. Mackin is a member of IOP's Board of Operating Principals which is comprised of experienced executives who provide leadership to the businesses in which IOP invests.
Kyle Hood, Director of IOP, said, “We are excited to partner with the Midwest Paper team. We believe that Midwest Paper has a strong position in the market and an excellent reputation with its customers.”
Mackin added, “We look forward to partnering with the Midwest Paper management team in continuing to enhance the company's production capabilities with a focus on delivering high levels of customer service and quality.”
Mike Deprey, Midwest Paper Vice President, commented, “The Midwest Paper management team and I are looking forward to our partnership with IOP. We believe IOP's operations-focused approach will assist us in optimizing all aspects of our business to support continued growth and better serve our customers.”
About Midwest Paper
Founded in 1889 and headquartered in Combined Locks, Wis., Midwest Paper is a manufacturer and distributor of high quality recycled containerboard, natural kraft & bleached packaging, and printing & writing grades. For more information, visit Midwest Paper's website at www.mwpaper.com.
Industrial Opportunity Partners is a private equity firm with $910 million of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with revenue between $30 million and $400 million.
SOURCE: Industrial Opportunity Partners
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» Former Appleton Coated Mill to Begin Doing Business as Midwest Paper Group - April 19, 2018.