June 22, 2021 - Peterson Real Assets, a subsidiary of Peterson Partners, Inc. has made a growth equity investment in Crossroads Paper, a 100% recycled paper mill to be built in Utah (USA). The amount of the investment was not disclosed.
The $320 million paper mill is expected to produce 1,000 tons of recycled packing paper per day.
"Crossroads Paper is a true environmentally sustainable real assets project that we believe will become a critical piece of the recycling, packaging and e-commerce infrastructure of the West," said Matthew Day, Partner with Peterson Partners. "We are passionate about helping great people build great businesses. John Sasine and Ron Sasine are not only outstanding entrepreneurs, but they are veterans of the industry. We are thrilled to be backing such an outstanding team."
Crossroads Paper CEO John Sasine said, "Finding partners who not only have an appetite for large scale real assets projects but also believe in our mission of sustainability was critical. Peterson Partners is the ideal partner for our company's next phase."
The Crossroads Paper site selection process is underway, with a final determination expected by year end.
Peterson Partners has invested in other impact-oriented growth companies in Utah, including Packsize, Cotopaxi and Blue Raven Solar.
Crossroads Paper is bringing modern recycling technology, world-class production techniques and deep industry insight to the packaging market in the Western United States. To learn more, visit: crossroadspaper.com.
SOURCE: Peterson Partners and Crossroads Paper
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