Press release from the issuing company
Raleigh, N.C. - Meriturn Partners announced today the sale of Dunn Paper Acquisition, Inc ("Dunn") located in Port Huron, MI to Wingate Partners, a private investment firm based in Dallas, TX. Meriturn co-invested with Dunn's management team in October of 2003 to purchase the assets through an out-of-court liquidation from Curtis Paper after the Port Huron mill had been shut down.
Dunn's CEO, Brent Earnshaw commented, "Our relationship with Meriturn enabled us to transform Dunn Paper from an out-of-service mill to an industry leader in manufacturing specialty papers. We look forward to partnering with Wingate as we continue to grow our market position."
Meriturn Partner and outgoing Chairman of Dunn, Mark Kehaya commented, "Dunn Paper was the Meriturn Fund's first investment. Dunn's successful transition over the last seven years is a testament to the hard work of the company's management team and employees with the support of Meriturn Partners. We are excited about the value that has been created, not only for investors, but also for the employees of Dunn Paper and the community of Port Huron. Meriturn looks forward to continuing our relationship with Dunn as a minority equity holder."
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