Industrial Opportunity Partners (IOP), an operations-focused private equity firm based in Evanston, Illinois, has acquired Midwest Recycled and Coated Containerboard Mill (Midwest Paper), LLC. Terms of the transaction were not disclosed.
Headquartered in Combined Locks, Wisconsin, Midwest Paper manufactures and distributes various grades of paper including recycled containerboard (medium and linerboard) for corrugated packaging, recycled bag products, and white paper for book publishing and printing/writing applications.
Dave Mackin, an IOP Operating Principal, will assume the position of Chairman of Midwest Paper. “We look forward to partnering with the Midwest Paper management team in continuing to enhance the company’s production capabilities with a focus on delivering high levels of customer service and quality,” he said.
Mike Deprey, Midwest Paper Vice President, commented, “The Midwest Paper management team and I are looking forward to our partnership with IOP. We believe IOP’s operations‐focused approach will assist us in optimizing all aspects of our business to support continued growth and better serve our customers.”