The Watermill Group Acquires Environmental Paper Producer Manistique Papers
LEXINGTON, MA—April 17, 2012—The Watermill Group, a strategy-driven private investment firm, has received approval to acquire Manistique Papers, the only company in North America producing high-value uncoated printing and writing paper exclusively from 100-percent recycled fiber. The purchase agreement was finalized following an auction and confidential bidding process.
Manistique enhances the company’s investment portfolio of environmental paper manufacturers, which also includes FutureMark Paper, the leading recycled coated paper producer in North America. With this acquisition, Watermill brings together leaders in 100-percent recycled paper in both the coated and uncoated markets and creates the most comprehensive line of recycled printing paper products in North America, representing nearly 300,000 tons of recycled paper per year.
The acquisition significantly expands Watermill’s footprint in sustainable paper manufacturing and positions the firm to deepen the value it delivers to Manistique’s and FutureMark’s customers, employees and investors.
“Over the past three to five years, sustainability has moved from a corporate nice-to-have to a corporate must-have, especially among Fortune 500s,” said Steven Karol, founder and managing partner at The Watermill Group. “This development is reflected in the success of our FutureMark investment, which has leveraged its unrivaled environmental position to significantly outperform competitors in a declining sector.