KPS-backed Expera Completes $10.5M Old Town Acquisition
December 09, 2014
Expera Specialty Solutions, a platform created by KPS Capital Partners in 2013, has completed its acquisition of certain assets related to the Old Town Fuel & Fiber pulp mill. The company acquired the assets free from any substantial liens, claims or encumbrances as it purchased the assets via an auction related to Old Towns’ bankruptcy sale process. Founded over a century ago, Old Town has the capacity to produce 200,000 tons of Northern Bleached Kraft pulp on an annual basis. Expera, a manufacturer of specialty paper products, intends to deploy significant capital and resources to revamp the mill that was closed for business in August. The sale price was reported to be about $10.5 million.