SMART Papers Acquiring Fraser Facilities

SMART Papers, LLC has signed an asset purchase agreement with Toronto-based forest products company Fraser Papers to acquire Fraser Papers' pulp and papermaking operations in Park Falls, WI, as well as a 470,000-square foot converting, distribution and customer service facility in West Chicago, IL. This transaction is expected to close in about 60 days.

The transaction includes three paper machines, a pulp and de-inking facility and well-established printing paper brands used daily by North American commercial printers.

"With this acquisition we will have an expanded and significant market position in the premium specialty segment of the North American printing paper industry," said SMART Papers CEO and president Tim Needham. "The new company will be a highly valued 'one-stop shopping' supplier to our customers by offering a broad range of premium coated and uncoated papers -- best selling products used every day in commercial and in-plant printing operations across North America."

SMART Papers began operations in February 2001 when an affiliate of Sun Capital Partners, Inc., a Boca Raton, Fla.-based private investment firm, purchased the Hamilton papermaking facility from International Paper.