Dunn Paper Acquires Specialty Mills from Clearwater Paper
DALLAS, Dec. 30, 2014
DALLAS, Dec. 30, 2014 /PRNewswire/ -- Wingate Partners, a Dallas-based investment firm, announced today that its portfolio company, Dunn Paper Inc., has acquired the specialty products business from Clearwater Paper Corporation (NYSE: CLW).
The transaction includes the sale of five Clearwater Paper specialty tissue and machine glazed paper mills located at Wiggins, MS, Menominee, MI, East Hartford, CT, Gouverneur (Natural Dam), NY and St. Catharines, Ontario.
Brent Earnshaw, Dunn Paper CEO, commented, "We are very pleased to welcome the exceptional people who lead and work at these specialty mills to the Dunn Paper team. Combining the unique assets, capabilities and products of these mills with Dunn Paper's Port Huron mill will lead to a specialty paper company with unmatched product offerings for our diverse customer base."
The five mill locations include nine paper machines with more than 200,000 tons of production capacity across a diverse set of product lines including machine glazed paper, coated paper, specialty napkin, towel and tissue, and wet crepe. The Specialty Mills' focus on niche paper products aligns with Dunn Paper's commitment to providing market leading, high value added paper solutions. As a result of the transaction, Dunn Paper has significantly expanded its presence in the specialty paper and tissue markets and can offer a wider array of products and solutions than ever before.
Brad Brenneman, Partner at Wingate Partners, commented, "We are honored to support Brent and his expanded leadership team to pursue this extraordinary opportunity. The company's unique assets, service ethic, and, most importantly, exceptional team will enable Dunn Paper to provide even more value-added specialty paper solutions to its customers."
Haynes and Boone, LLC acted as legal advisor to Wingate Partners.
About Dunn Paper:
Dunn Paper, Inc. is a leading specialty paper manufacturer with customers worldwide. The company produces a wide array of specialty waxed, coated, and uncoated MG papers used in various food packaging and specialty label applications. The company is located in Port Huron, MI, approximately 60 miles north of Detroit.
For more information, visit www.dunnpaper.com
About Wingate Partners:
Wingate Partners (www.wingatepartners.com) was founded in 1987 to purchase controlling equity investments in manufacturing, distribution and services businesses. Wingate Partners' philosophy is to create value by supporting management in their efforts to improve the operations of its portfolio companies. The Partners of Wingate have had substantial senior-level operating experience and extensive careers in acquiring companies.
For more information on Wingate Partners, visit www.wingatepartners.com.
CONTACT: Brad Brenneman, Partner, +1-214-720-1313, firstname.lastname@example.org
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/dunn-paper-acquires-specialty-mills-from-clearwater-paper-300014619.html
SOURCE Wingate Partners
/Web site: http://www.dunnpaper.com
(END) Dow Jones Newswires
December 30, 2014 14:47 ET (19:47 GMT)