Appvion completes sale to Lender Group Led by Franklin Advisers
15 June 2018
Appvion completes the sale of substantially all of the Company’s assets to a group of its lenders led by Franklin Advisers, Inc. The transaction will significantly reduce Appvion’s debt, provide additional liquidity, and better position the Company to compete long-term in the evolving specialty paper market and further invest in the innovation that has made it a market leader.
The total consideration was approximately $365 million, plus the assumption of substantial liabilities, including many of the Company’s contractual obligations.
Appvion produces thermal, carbonless, security, inkjet, digital specialty, and colored papers.