KPS Buying Packaging Dynamics' Thilmany Papers Business
April 25, 2013
KPS Capital Partners has signed a definitive agreement to acquire the Thilmany Papers business unit of Kohlberg & Company-backed Packaging Dynamics. Thilmany Papers manufactures packaging papers, pressure-sensitive papers, and industrial and technical papers. KPS plans to combine the business unit with Wausau Paper's specialty paper unit, which the firm signed a non-binding Letter of Intent in March 2013 to acquire. Closing of the Thilmany transaction, expected in mid-2013, is conditioned upon the closing of the Wausau transaction.