Wilmington Paper Corp.

Founded by Harvey Lurie in 1977 and headquartered in Pine Brook, NJ, Wilmington Paper Corp. ("Wilmington" or the “Company”) is a 3rd generation family owned leader in the global recovered fiber recycling industry. The Company manages and processes the paper waste streams of 2,000 converting facilities and waste hauling suppliers across the U.S. to maximize the value of their fiber scrap through sale to the leading producers of corrugated, tissue, and paperboard products throughout the world. A pioneer in the recycling industry, Wilmington remains at the forefront of major trends including the conversion from plastic to paper packaging, conversion from virgin fiber to recovered fiber content in a broad array of paper and packaging products, increasing recycling rates, and zero waste to landfill regulations and initiatives. Under the third generation of Lurie family leadership, the Company had achieved exponential growth and its Recycling Management Resources division had built out a footprint of eight specialty recycling centers throughout the eastern and southern U.S. After more than forty years of family ownership, the shareholders engaged Silvergrove to explore alternatives for achieving a liquidity event and capitalizing the Company for accelerated growth and expansion. Through a highly competitive process, a transaction was executed with New State Capital Partners, a leading NY based middle market private equity firm with deep operational experience and a highly successful track record of partnering with family and founder owned companies to achieve national scale, presence and long-lasting value. Stuart Lurie, Brett Lurie and Josh Lurie continued in their leadership roles at the Company, and the Lurie family retained significant ownership in the transaction.

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