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KPS Sponsors Expera in Acquisition of Wausau Paper
- Client News
- May 20, 2013
Wausau Paper announced that it has signed a definitive agreement to sell its specialty paper business to a new company sponsored by Paul, Weiss client KPS Capital Partners L.P. The new company will be known as Expera Specialty Solutions.
KPS, as previously announced, has also entered into a definitive agreement to acquire the specialty paper business of Packaging Dynamics Corporation (Thilmany), which operates paper mills in De Pere and Kaukauna, Wisconsin. Expera will combine the Thilmany business with Wausau Paper's specialty paper business to create a leading North American manufacturer of specialty paper products for the food packaging, industrial, and pressure-sensitive release liner segments.
A collective bargaining agreement covering employees at the Mosinee, Rhinelander, and Kaukauna facilities has been negotiated and ratified. The collective bargaining agreement and the Thilmany acquisition agreement were both conditions to Wausau Paper entering into its agreement with KPS.
The Paul, Weiss team includes, among others, corporate partners Eric Goodison, Charles Googe and Carl Reisner and counsel Didier Malaquin; employee benefits partner Robert Fleder and counsel Reuven Falik and Erin Murphy; litigation partners Moses Silverman, Aidan Synnott and Maria Vullo; real estate partner Peter Fisch; tax partners Richard Bronstein and David Mayo; and environmental counsel William O'Brien.