January 3, 2017
New Mill Capital Holdings, Perry Videx and Infinity Asset Solutions joined forces to acquire the mill assets of Madison Paper Industries in Madison, ME. The acquisition includes real estate assets on the site at 3 Main St., as well as the mill equipment. A sales price was not disclosed.
The mill closed in May, putting more than 200 people out of work. The mill’s specialty had been manufacture of so-called supercalendered paper, which is used in coupons and circulars. The demand for such paper has declined over the years.
The new owners will sell assets that are not useable on the property, and will demolish obsolete structures. Once the process is complete, the property will be marketed for alternative industrial uses.
“Because most of the mill was built in 1980, both the buildings and equipment assets are among the newest of any shuttered paper mill in the Northeast,” said David Goodman with Perry Videx.
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