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Wausau Paper Agrees to Sell Two Mills

March 22, 2013
MOSINEE, WI—Wausau Paper is selling its specialty paper business, plus paper mills in Mosinee and Rhinelander, to KPS Capital Partners for $130 million, the Green Bay Press Gazette reported. KPS is a New York-based private equity firm.

KPS Capital reportedly plans to acquire another concern and combine it with the assets it is acquiring from Wausau Paper. The private equity firm has a history of obtaining distressed businesses and investing in them, according to the newspaper.

It was unclear what specific plans were in store for both mills.

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