Private Equity Firm Announces Acquisition of Midwest Paper Group

SEATTLE (Scrap Monster): Combined Locks, Wisconsin-based Midwest Paper Group has been acquired by Illinois-based private equity firm Industrial Opportunity Partners (IOP). The details of the transaction were not disclosed.

Commenting on the deal, Kyle Hood, Director, IOP said that it is excited to partner with the Midwest Paper team. The strong market position of Midwest Paper and its excellent reputation with customers will benefit IOP, he noted. Meantime, Dave Mackin, an IOP operating principal noted that it looks forward to enhance the company’s production capabilities in future. The focus will be on delivering high levels of customer service and quality, he added.

ALSO READ: Sonoco Completes Acquisition of TEQ

Mike Deprey, vice president, Midwest Paper noted that the entire team is looking forward to the new partnership with IOP. The operations-focussed approach of IOP will help in optimizing all aspects of Midwest’s business to support better growth opportunities and enhanced customer service.

JP Morgan Chase Bank and Chemical Bank provided the transaction’s senior debt financing, whereas the subordinated debt financing was provided by Yukon Partners. Also, legal representation was provided by McDermott Will & Emery LLP.