WISCONSIN RAPIDS – More paper mill equipment and machines will be auctioned off next week in Wisconsin Rapids.
Capital Recovery Group – who purchased the idled portions of Billerud’s paper mill in Wisconsin Rapids – is hosting a second round of auctions July 23-25 online.
The online auction will feature a paper machine, refiners, re-pulpers, vacuum pumps, stainless pumps, air compressors, air dryers, chiller sets, power tools, welders, pallets of bearings, electric motors, cabinets and more. Bulldozers, loaders, forklifts, cranes and other equipment are on the list for auction, as well.
This round of auctions is not the first for the site. CRG held a three-day public auction in April for spare inventory, maintenance equipment and other items.
For more information on the auction, visit crgllc.com/auctions/verso-paper-mill-sale-2.
How did we get here?
Verso announced in June 2020 it would idle production at paper mills in Wisconsin Rapids and Duluth, Minnesota, at the end of July 2020, pointing to a decline in demand for graphic paper. In March 2022, Verso merged with BillerudKorsnäs AB, who has since changed its name to Billerud. In March 2024, Billerud announced it would sell the idled portions of the Wisconsin Rapids mill to CRG, closing the deal in April.
PCR Rapids, a group made up of Capital Recovery Group, Rabin Worldwide and PPL Group, announced in April it would start finding parties interested in buying the entire mill site or select portions. According to that announcement, the entire site stands on 1,400 acres along the Wisconsin River. PCR will own the land, but Billerud will continue owning and operating its hydroelectric facilities and the converting facility, employing 130 workers directly.
Capital Recovery Group is a global private equity firm that specializes in industrial assets and real estate. The company revitalizes idled or marginally productive assets and liquidates surplus. The company also provides realty services, including creating opportunities for repurpose, sale, leasebacks, real estate auctions, plant decommissioning, demolition and remediation management. It also offers auction services for industrial assets.
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Contact Caitlin at cshuda@gannett.com or follow her on Twitter @CaitlinShuda.
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