Pixelle owner sells Wisconsin mill to larger firm
The mill in Stevens Point will continue operations
MADISON, Wis. – The owner of Pixelle Specialty Solutions, which manufactures specialty papers at four mills including one in Stevens Point, Wisconsin, has agreed to sell the company to a larger firm. Lindsay Goldberg, the firm that owns Pixelle, announced the agreement to sell it to H.I.G. Capital, a larger private equity firm based in Miami, Florida. The price was not announced.
Pixelle also owns mills in Ohio, Maine and Spring Grove, Pennsylvania, where the company is headquartered. Among the specialty papers made at Pixelle mills are products used in books, food packaging, envelopes, paper cups and straws. The Stevens Point mill employs 300 people.
Russell Triedman, Managing Partner at Lindsay Goldberg, added, “We are very pleased to have partnered with Pixelle’s management to execute on a strategic plan to position the business as a true market leader and partner of choice to its customers. We are especially proud to have worked with Pixelle’s management team to advance the company’s sustainability initiatives, including responsible sourcing practices, reduced energy consumption, and the continued development of environmentally friendly products. Pixelle is poised for continued success.”
H.I.G. is a large firm with U.S. and domestic investments totaling $48 billion. The sale is expected to close by June 30.