WISCONSIN RAPIDS, Wis., March 25, 2024  /PRNewswire/ — Investment group PCR Rapids 1, LLC (PCR) has reached terms with Billerud Americas Corporation (Billerud) for the purchase of the idled Wisconsin Rapids Mill and associated assets and soon will initiate a globally marketed effort to identify parties interested in buying the entire mill site or select portions.

PCR is a consortium of investment firms Capital Recovery Group, LLC, Rabin Worldwide, and PPL Group LLC. The group repositions idle industrial assets by investing their own funds to identify and support new ownership and other avenues for repurposing.

The Wisconsin Rapids Mill site consists of approximately 1,400 acres of land, one million square feet of building space, and roughly over one mile of frontage on the Wisconsin River. The available assets include a paper and pulp mill, support services buildings, parking lots, pre-cleared and undeveloped lots, and large stretches of residential and commercial land.

PCR will market valuable paper machines and other significant operating equipment while searching for potential operational users. In tandem, a three-day public auction will be scheduled to sell the mill’s spares inventory, maintenance equipment, rolling stock, and more. The auction is set to be held April 23—25.

Billerud’s coated printing paper production at the Wisconsin Rapids Mill became unsustainable due to a significant decline in demand, resulting in the site being idled. PCR will own the land, but Billerud will retain and operate the hydroelectric generation facilities and paper converting facility, keeping over 130 jobs in the area and indirectly supporting many more.

PCR is locally managed by Glen Gilbert. For all interest and questions, please contact Glen at (304)813-4831 or [email protected], and visit www.crgllc.com for auction information.

Media Contact:
Tom Nicholson
[email protected]
212-203-2803

SOURCE PPL Group; CRG