Wilmington Paper collects, ships, processes and sells premium recycled fibres for use in recycled corrugated, tissue, and folding carton production end markets
New State Capital has purchased majority interest in Wilmington Paper. (Credit: Pixabay)
New State Capital Partners has purchased a majority stake in US-based Wilmington Paper and its related affiliates for an undisclosed sum.
Based in Pine Brook, New Jersey, Wilmington Paper has expertise in creating recycling management programmes in folding carton and converting plants across the globe. It will work to meet the requirements of the paper industry, including fibres, plastics, and metals.
Founded in 1977, Wilmington Paper purchases scrap and post-commercial use fibre from a network of more than 2,000 converting and waste hauling suppliers across the US.
Using on-premise assets at its suppliers’ sites, in-house logistical and brokering capabilities, and eight recycling centres across the eastern and southern US, the company collects, ships, processes and markets premium recycled fibres.
These recycled fibres are used in recycled corrugated, tissue, and folding carton production end markets.
New State senior principal Kurt Lentz said: “Wilmington Paper has a differentiated niche in fibre waste given its broad reach, longstanding relationships, and industry expertise and is uniquely positioned to capitalise on the growing worldwide demand for recycled fibre content.
“We are delighted to be working with Stuart and his team as we seek to further extend the company’s reach within the fibre scrap and waste management sector through both organic initiatives and via add-on acquisitions.”
Wilmington Paper CEO Stuart Lurie and other members of the management team will continue with the company. They have retained a significant minority interest in the business.
In a statement, Lurie said: “New State will be an invaluable partner as we embark on the next chapter of Wilmington Paper’s growth. Their resources will help us invest in the people, innovative technology, and logistical equipment and solutions that will enhance our capabilities and maintain our competitive position in the years to come.”