Behrens Investment Group, a New York-based investment firm, announced [on Jan. 4] that it became the new owner of New Hampshire’s Gorham Paper & Tissue and White Mountain Tissue at the end of 2020. The mill will operate under the name White Mountain Paper Company.
“Behrens will significantly modernize the facility’s power, water and civil infrastructure to position the mill, and its state-of-the-art White Mountain tissue machine, as a leader among North American tissue and towel producers,” said Behrens Managing Partner Evan Behrens. “We are thrilled to partner with White Mountain’s dedicated employees to set the stage for sustained growth. We are grateful for the hard work of many local stakeholders, including James Key-Wallace, Beno Lamontagne, George Bald, Joe Kenney, Governor Sununu’s office, and many others.”
Behrens added that the infrastructure improvements, along with the mill’s existing hydropower, landfill gas energy platform, and use of environmentally certified pulp, are designed to permit its customers to produce some of the most environmentally sustainable retail tissue and towel products on the market. The mill will be led by industry veteran Price Howard.
The sale was greeted positively by state and local leaders, including Gov. Chris Sununu, who noted that the Gorham Mill has been a vital part of the North Country economy for more than a century.
“I want to welcome Behrens to the Granite State and to thank them for their perseverance through the process of acquiring the mill,” said Sununu. “I would also like to thank my state and local colleagues along with the United Steelworkers, the Bank of New Hampshire, Eversource and Brookfield Hydro in helping to make this happen.”
The Behrens due diligence team included operational and technical support from Global Management Partners, of Greer, SC and business advisory, marketing, and supply chain support from Central National Gottesman (CNG), of Purchase, NY.
“CNG and our loyal customers are gratified that Behrens embraced this vision of the mill’s future,” said Warren Pullen, Executive Vice President of CNG. “Gorham plays a very important role in the supply of tissue and towel to the North American market and we are delighted to continue as a partner to the mill under Behrens’ ownership.”
ABOUT GORHAM PAPER & TISSUE
Gorham Paper & Tissue and White Mountain Tissue, also known locally as the Gorham Mill, has been in operation since 1852, when it opened as the Berlin Sawmill in Berlin, NH. It expanded operations to include pulp and paper in 1888 and is one of the oldest remaining paper mills in operation in North America. The mill’s White Mountain tissue machine began operation in 2012 and produces 30,000 tons of product annually for the North American tissue market.
ABOUT BEHRENS INVESTMENT GROUP
Based in New York, Behrens Investment Group is an operationally focused investment manager that invests in public and private situations where the quality or prospects of a company are obscured. With a patient but hands-on approach, Behrens actively works with management to close value gaps, drive growth, and realize each investment’s intrinsic value.