Wausau Paper Agrees to Sell Two Mills

MOSINEE, WI—Wausau Paper is selling its specialty paper business, plus paper mills in Mosinee and Rhinelander, to KPS Capital Partners for $130 million, the Green Bay Press Gazette reported. KPS is a New York-based private equity firm.

KPS Capital reportedly plans to acquire another concern and combine it with the assets it is acquiring from Wausau Paper. The private equity firm has a history of obtaining distressed businesses and investing in them, according to the newspaper.

It was unclear what specific plans were in store for both mills.