Wausau Paper Signs Agreement to SellSubmitted: 05/20/2013
Story By WJFW News Team

RHINELANDER - Wausau Paper today announced that it has signed a definitive agreement to sell its specialty paper business to a new company sponsored by KPS Capital Partners L.P. ("KPS"), a New York-based private equity firm with significant experience in the paper industry.

The new company will be known as Expera Specialty Solutions, LLC ("Expera").

KPS, as previously announced, has also entered into a definitive agreement to acquire the specialty paper business of Packaging Dynamics Corporation

("Thilmany"), which operates paper mills in De Pere and Kaukauna, Wisconsin.

Expera will combine the Thilmany business with Wausau Paper's specialty paper business to create a leading North American manufacturer of specialty paper products for the food packaging, industrial, and pressure-sensitive release liner segments.

A collective bargaining agreement covering employees at the Mosinee, Rhinelander, and Kaukauna facilities has been negotiated and ratified.

The collective bargaining agreement and the Thilmany acquisition agreement were both conditions to Wausau Paper entering into its agreement with KPS.

Key highlights of the transaction are as follows:

The transaction will result in net cash proceeds to Wausau Paper of approximately $110 million after settlement of transaction-related liabilities, transaction costs and taxes.

Expera will acquire the assets of Wausau Paper's Rhinelander and Mosinee mills; the assets of the company's Brainerd mill are not included in the transaction.

Wausau Paper will retain defined benefit pension and other post-retirement benefit obligations; however, effective with the closing of the transaction, approximately $41 million of future liability will be eliminated.

Wausau Paper will not hold any equity ownership in Expera.

Wausau Paper will have the opportunity to receive a contingent payment that would be equal to what the holder of a 5% equity interest in Expera would receive if certain performance thresholds and KPS liquidity events occur.

Hank Newell, president and CEO of Wausau Paper, commented, "This transaction accomplishes all of our key objectives: divesting our paper business in a way that creates value for our shareholders, creating a specialty business under new ownership with the scale and product breadth to compete globally, and narrowing our focus to accelerating growth in our tissue business."

The transaction has received required regulatory approval under the Hart-Scott-Rodino Antitrust Improvements Act. Other customary conditions to closing, including third party financing, remain.

The Wausau Paper sale to Expera is also conditioned upon Expera completing the acquisition of the Thilmany business.

While the company expects to finalize the transaction in the second or third quarter of 2013, there can be no certainty or assurance about the timing or completion of a transaction.

Mesirow Financial, Inc. and Ruder Ware, L.L.S.C. have been the financial and legal advisors to Wausau Paper.

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MINOCQUA - By the time most of us finish breakfast, we already start planning what to eat for lunch.

For some kids all around the world, that next meal sometimes never comes.

The Food for Kidz Minocqua committee will lend a helping hand to change that Saturday morning.

Lakeland Union High School's common area will transform into a full-blown assembly line.

Food for Kidz volunteers will pour and pack ingredients into plastic bags.

The goal is 175,000 packed meals.

Food for Kidz needs more volunteers by tomorrow to meet that goal.

"If you haven't experienced this, come out and try it and you'll go away with just a great feeling," said Food for Kidz co-chair John Breiten.

Kids and adults of all ages are welcome to walk in to volunteer.

The food packages will be shipped off to anywhere from Honduras to Mozambique.

Some special meals will be set aside and sent to local communities in the Northwoods.

"It's just a great, fun community event. I think the kids especially take something away that they are giving beyond themselves," said Food for Kidz sponsor and Lakeland Union High School Spanish teacher Karen Roerich.

Walk-in volunteers are welcome to attend either packing shift tomorrow morning.

The first shift is from 8 a.m. to 10 a.m. The second shift is from 10 a.m. to 12 p.m.

If you can't make it out to Lakeland Union High School Saturday, donations are always welcome.

Call John Breiten at 715-686-7570 for more info.

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What We're Working On Submitted: 10/21/2016

- Tonight on Newswatch 12:

Tomorrow is "Wisconsin's Prescription Drug Take-Back Day." The Wisconsin's Attorney General hopes that you will turn in any unused prescription medications that are in your cabinets at home to help solve a growing problem. Find out why keeping those medications in your home could be dangerous and why it's important to turn them in.

Plus, this is the first week of high school playoff football games in Wisconsin. Tonight on Friday Night Blitz we'll bring you scores from all across North Central Wisconsin as well as highlights from the following games:

Merrill vs. Rice Lake

Fox Valley Lutheran vs. Antigo

Colby vs. Stratford

Northern Elite vs. Rib Lake/Prentice

Auburndale vs. Marathon

Laona/Wabeno vs. Abbotsford

That will be tonight on Friday Night Blitz at the end of Newswatch 12 at 10.

We'll bring you this and more tonight on Newswatch 12 - news from where you live.

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WAUSAU - People often leave unused prescriptions in their cabinets at home. But Wisconsin's Attorney General hopes you turn those prescriptions in Saturday to help solve a growing problem.

October 22 is Wisconsin's Prescription Drug Take-Back Day.

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The Journal Sentinel reported the videos show activist Scott Foval bragging about disrupting a Walker rally in Iowa. Those videos were released by conservative activist James O'Keefe.

Foval talks about bringing people out of state into Wisconsin, but doesn't give a reason why.

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Wisconsin Public Service Commission officials say they're considering spending $10 million to $20 million on manure digester technology.

The commission also voted Thursday to authorize at least $7.7 million in funding for rebates for solar, wind and geothermal projects around the state that would keep a rebate program in place for energy consumers.

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RHINELANDER - The Northwoods Land Trust helps protect about 12,000 acres of natural lands in six northern Wisconsin counties.

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The Land Trust relies on the help of about 40 volunteers to accomplish its mission, volunteers like Nancy Richmond.

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MILWAUKEE - A Milwaukee police officer who sparked several nights of protest after fatally shooting a black man in August has been charged with five counts of sexual misconduct in a separate case stemming from an alleged attack two days after the shooting.

The criminal complaint alleges Dominique Heaggan-Brown took the victim to a bar late on the night of Aug. 14 where they drank and watched TV as coverage of the protests aired. The victim told police he had trouble remembering everything that happened after they left the bar but that he felt drugged. He said he woke up to find Heaggan-Brown assaulting him.

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