Wausau Completes Sale of Specialty Paper Business

Towel and tissue paper maker Wausau Paperannounced yesterday it had completed the sale of its specialty paper business to Expera Specialty Solutions, a recently formed division of private equity firm KPS Capital Partners. The deal, which was  first broached in March, resulted in net cash proceeds to Wausau of approximately $105 million.

The transaction includes Wausau Paper's manufacturing facilities in Mosinee and Rhinelander, Wis., but does not include any pension plans, retiree health or death benefits, or their associated liabilities. 

A portion of the net proceeds will be used to eliminate the current outstanding balance on the paper maker's revolving-credit agreement of approximately $67 million.

The article Wausau Completes Sale of Specialty Paper Business originally appeared on Fool.com.

Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.