Wausau Paper, Mosinee, Wis., signed a definitive agreement to sell its specialty paper business to a new company sponsored by KPS Capital Partners L.P., a New York-based private equity firm. The new company will be known as Expera Specialty Solutions, LLC.
“This transaction accomplishes all of our key objectives—divesting our paper business in a way that creates value for our shareholders, creating a specialty business under new ownership with the scale and product breadth to compete globally and narrowing our focus to accelerating growth in our tissue business,” says Hank Newell, president and CEO of Wausau Paper.