Verso Corp.

Verso Corp.

Verso Corp.

Overview
Date Founded

2006

Headquarters

6775 Lenox Center Court,Suite 400,Memphis, TN 38115-4436

Type of Company

Public

Employees (Worldwide)

4,400

Industries

Paper Products

Company Description

At Verso Paper Corp. our focus is clear and it permeates throughout our organization: Do what is right, maintain a balance between environmental, financial and social responsibilities and ensure that we continually improve our ability to creatively solve customer problems with products and services that exceed expectations. We are a leading North American producer of coated papers, including coated groundwood and coated freesheet, and specialty products. Verso's paper products are used primarily in media and marketing applications, including magazines, catalogs and commercial printing applications such as high-end advertising brochures, annual reports and direct mail advertising.

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Executives & Employees

Chief Executive Officer

Chief Financial Officer & Senior Vice President

President of Graphic & Specialty Papers

Benefit Plan Administrator

Senior Vice President-Manufacturing & Energy

Senior Vice President of Manufacturing

Interim Co Chairman of the Board

Chief Operating Officer

Senior Vice President, General Counsel & Secretary, Verso Corporation Pension Plan

Deputy General Counsel

Board of Directors

Founder at Pirinate Consulting Group LLC

Director & Managing Director at Sears Holdings Corporation

President at Ontrac Advisors, Inc.

Managing Member at Shuster Group LLC

Former Tax Partner at Ernst & Young LLP

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Owners & Shareholders
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SCW Capital Management LP is an American private company located in Dallas, TX, also operating in the United States, that provides investment advice. The firm was founded in 2014 by Gordon Stacy Smith.

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Redwood Capital Management focuses on distressed and stressed investments primarily in the fixed income markets. These situations typically involve a redistribution of a security when other market participants are either selling and/or avoiding it due to a company specific or industry related problem. Investments may include: senior bank debt, senior notes, subordinated notes, trade claims, liquidating trusts, and litigation trusts. Redwood also invests, in other instruments which they believe compliment their main strategies, including high yield bank debt and bonds, U.S. or non-U.S., publicly traded or privately issued or negotiated common stocks, preferred stocks, stock warrants and rights, sovereign debt, corporate debt, bonds, notes or other debentures or debt participations, convertible securities, swaps, options (purchased or written), futures contracts, commodities and other derivative instruments, foreign currencies, partnership interests and other securities or financial instruments including those of investment companies. Redwood may take long or short positions, as they deem appropriate and subject to any client-specific, market or regulatory limitations, in any of the investment instruments noted above. The firm may utilize leverage in the form of direct borrowings.

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Solas Capital Management typically invests a large majority of their clients' assets in equity and equity-related securities that may be affected by business, financial market or legal uncertainties. The firm's investment approach focuses on fundamental value with respect to specific securities, both in long and short strategies. The strategy is designed to achieve absolute investment returns and preserve capital, regardless of market conditions. Solas Capital's objective is to avoid significant net exposure to the market as a whole, and to various aspects of the market, while focusing on identifying specific investment situations which represent the best opportunities for optimal risk-adjusted returns.Solas Capital uses primary research and fundamental bottom-up analysis to develop a deep, fundamental view of companies and to identify opportunities across investment instruments. They seek to identify companies which will out-perform, as well as those that will under-perform, in any given industry sector and across a wide range of global markets. Their value-oriented strategy is consistent in approach and does not depend on market environment. Solas Capital typically maintains low net exposure and does not vary exposure or attempt to predict market movements in the broad market.

Recent Transactions
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ESG EKO AGRO Group AG purchases Upland Resources, Inc. from Verso Corp.

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Eagle Creek Renewable Energy LLC purchases Verso Androscoggin Power LLC from Verso Corp.

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Apollo Global Management, Inc., Verso Corp. purchase NewPage Holdings LLC

Transaction Advisors
Legal Advisor

Advised onApollo Global Management, Inc., Verso Corp. purchase NewPage Holdings LLC

Investment Advisor

Advised onApollo Global Management, Inc., Verso Corp. purchase NewPage Holdings LLC

Lender

Advised onApollo Global Management, Inc., Verso Corp. purchase NewPage Holdings LLC

Legal Advisor

Advised onApollo Global Management, Inc., Verso Corp. purchase NewPage Holdings LLC

Director

Advised onApollo Global Management, Inc., Verso Corp. purchase NewPage Holdings LLC

Assistant Vice President

Advised onApollo Global Management, Inc., Verso Corp. purchase NewPage Holdings LLC

Advisors & Consultants
Legal Advisor

Partner at Latham & Watkins LLP

Legal Advisor

Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Consultant

Executive Vice President & Chief Financial Officer at Packaging Corporation of America

Clients

Hearst Corp. publishes magazines and newspapers. It offers daily and weekly newspapers, monthly magazines, cable networking and internet services. The firm operates entertainment, syndication, broadcasting, magazines, news papers, ventures, real estate and other assets. The company was founded by William Randolph Hearst on March 4, 1887 and is headquartered in New York, NY.

Meredith Corp. engages in television broadcasting and magazine advertising business. It operates through the Local Media and National Media business segments. The Local Media segment includes television stations and offers websites, mobile-optimized websites, and mobile applications. The National Media segment consists of national consumer media brands delivered via multiple media platforms including print magazines and digital and mobile media, brand licensing activities, database-related activities, and business-to-business marketing products and services. The company was founded by Edwin Thomas Meredith in 1902 and is headquartered in Des Moines, IA.

Veritiv Corp. engages in business-to-business distributor of print, publishing, packaging, facility solutions, print and publishing products and services. The company provides logistics and supply chain management solutions to its customers. It operates through the following segments: Print, Publishing, Packaging and Facility Solutions. The Print segment sells and distributes commercial printing, writing, copying, digital, wide format and specialty paper products, graphics consumables and graphics equipment primarily in the U.S., Canada and Mexico. This segment also includes customized paper conversion services of commercial printing paper for distribution to document centers and form printers. The Publishing segment sells and distributes coated and uncoated commercial printing papers to publishers, retailers, converters, printers and specialty businesses for use in magazines, catalogs, books, directories, gaming, couponing, retail inserts and direct mail. This segment also provides print management, procurement and supply chain management solutions to simplify paper and print procurement processes for the customers. The Packaging segment provides standard as well as custom and comprehensive packaging solutions for customers based in North America and in key global markets. The Facility Solutions segment sources and sells cleaning, break-room and other supplies such as towels, tissues, wipers and dispensers, can liners, commercial cleaning chemicals, soaps and sanitizers, sanitary maintenance supplies and equipment, safety and hazard supplies, and shampoos and amenities primarily in the U.S., Canada and Mexico. The company was founded in July 10, 2013 and is headquartered in Atlanta, GA.

Key Stats and Financials As of 2018
Market Capitalization
$431M
Total Enterprise Value
$760M
Earnings Per Share
$4.87
Revenue
$2.68B
Net Profit
$171M
Total Debt
$0
Total Equity
$906M
Enterprise Value Sales
0.28x
Enterprise Value EBITDAOperating
2.92x
TEVNet Income
4.45x
Debt TEV
0x
Three Year Compounded Annual Growth Rate Of Revenue
-4.94%
EBITDAMargin
9.69%
EBITDA
$260M
Five Year Compounded Annual Growth Rate Of Revenue
14.07%
Non-Profit Donations & Grants
Investors
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Apollo Global Private Equity is an active manager which makes investments in the form of opportunistic buyouts and build-ups, corporate carve-outs, and distressed investments. The sectors in which the invests financial services, business services, consumer services, chemicals, natural resources, consumer & retail, leisure, manufacturing & industrial & media, telecom & technology, energy, metals & mining, and agriculture sectors. It also makes co-investments along with other flagship funds. The firm geographic focuses on mid-sized distressed companies located across the globe, primarily in North America.

Suppliers
Cass Information Systems, Inc. IT Consulting & Services | ST. LOUIS, MO

Cass Information Systems, Inc. engages in providing integrated information and payment management solutions. It enables enterprises to achieve visibility, control and efficiency in supply chains, communications networks, facilities and other operations. The company operates through the following segments: Information Services and Banking Services. The Information Services segment provides transportation, energy, telecommunication, and environmental invoice processing and payment services to large corporations. The Banking Services segment provides banking services primarily to privately held businesses and faith-based ministries. Cass Information Systems was founded in 1906 and is headquartered in St. Louis, MO.

OMNOVA Solutions, Inc. Building Products & Construction Materials | Fairlawn, OH

OMNOVA Solutions is an innovator and global provider of emulsion polymers, specialty chemicals and decorative and functional surfaces that are expertly designed to meet the needs of today and tomorrow. Our Performance Chemicals division develops emulsion polymers and specialty chemicals for a vast number of end uses including coated paper, carpeting, disposable and durable nonwovens, textiles and in-mold coatings. Additionally, OMNOVA's already robust portfolio has been enhanced with legacy ELIOKEM products, including antioxidants, coating resins, elastomeric modifiers, rubber additives and more! Our Engineered Surfaces division designs and manufactures decorative laminates, vinyl and urethane upholstery for marine, school bus and mass transportation, and contract markets. We also produce a variety of performance films for a broad array of applications.

ALLETE, Inc. Alternative Energy | Duluth, MN

ALLETE, Inc. engages in the provision of electric and natural gas utility services. It operates through the following business segments: Regulated Operations, ALLETE Clean Energy, and U.S. Water Services. The Regulated Operations segment includes regulated utilities; Minnesota Power; SWL&P; and investment in ATC, which regulates utilities that owns and maintains electric transmission assets. The ALLETE Clean Energy segment develops, acquires, and operates clean and renewable energy projects. The U.S. Water Services segment provides integrated water management for industry by combining chemical, equipment, engineering, and service for customized solutions to reduce water and energy usage and improve efficiency. The company was founded in 1906 and is headquartered in Duluth, MN.

Competitors

Established in 1995, Nine Dragons Paper (Holdings) Limited ("ND Paper" or the "Company") (Stock Code: 2689) is the world's largest in environmentally friendly recovered paper based paper manufacturing in terms of production capacity. ND Paper and its subsidiaries (the "Group") primarily produce linerboard, including kraftlinerboard, testlinerboard and white top linerboard, high performance corrugating medium and coated duplex board. Its operations enable it to serve as a one-stop shop for a broad range of high quality packaging paperboard products. The Group's paper machines in China are mainly located in four locations, including Dongguan, Guangdong Province in the Pearl River Delta, Taicang, Jiangsu Province in the Yangtze River Delta region, Chongqing, regional hub for the Central-Western Provinces and Tianjin, at the center of the Bohai Economic Rim. It is also building a medium-sized paper production base in Quanzhou, Fujian Province. As for the northern and northern-eastern markets, a new production base near Shenyang is in the pipeline, and the Group has also acquired 78.13% controlling equity interest in Hebei Yongxin Paper Co., Ltd. ("Hebei Yongxin"). In addition to packaging paperboard, the Group is also engaged in the production of printing and writing paper in Dongguan and Taicang, the production of unbleached kraft pulp through a joint venture in Inner Mongolia and the production of high value specialty paper and pulp in Leshan, Sichuan. In May 2008, ND Paper entered Vietnam by setting up a joint venture in Vietnam, which is engaged in linerboard production. ND Paper always aims to be a world-class packaging paperboard manufacturer. Our staff at all levels have been striving diligently to reach this goal. The Company continuously puts significant resources into implementing advanced machineries and technologies, improving product quality and incubating technical and management personnel. Furthermore, we adopt advanced management techniques and implement enterprise resource planning (ERP) system in order to further improve our operation and management. In ND Paper, we always consider people as one of our critical success factors. Therefore, we never hesitate to improve on our staff benefits. In order to incubate our people, we arrange different kinds of internal and external training programmes. Our staff and workers always have opportunities to develop and continuously leverage on their abilities. ND Paper believes that social responsibility comes with corporate development. Therefore, from the very beginning, we have been investing huge amounts into environmental protection facilities, aiming at minimizing our impact to the environment. Moreover, we always support various kinds of district affairs and participate in poverty and relief activities. ND Paper was successfully listed on the Main Board of the Hong Kong Stock Exchange on 3 March 2006.

UPM-Kymmene Oyj Paper Products - Helsinski, Uusimaa

UPM-Kymmene Oyj engages in the manufacture and sale of printing and writing papers. It operates through the following segments: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Paper Asia, UPM Paper ENA, UPM Plywood, and Other operations. The UPM Biorefining segment consists of pulp, timber and biofuels businesses. The UPM Energy segment operates in power generation and physical and derivatives trading. The UPM Raflatac segment manufactures self-adhesive label materials for product and information labeling. The UPM Paper Asia segment consists of UPM Changshu paper mill in China and label paper operations in the Tervasaari and Jamsankoski mills in Finland. The UPM Paper ENA segment produces magazine paper, newsprint and fine paper. The UPM Plywood segment produces plywood and veneer products. The Other operations include forests and wood sourcing, UPM Biocomposites, UPM Biochemicals business units and Group services. The company was founded in 1995 and is headquartered in Helsinki, Finland.

Resolute Forest Products, Inc. provides forest products. It owns and operates pulp & paper mills, and wood products facilities located in the United States, Canada and South Korea. The company operates its business through the following segments: Newsprint, Specialty Papers, Tissue, Market Pulp and Wood Products. It also produces lumber and other wood products for the residential-construction and home-renovation markets, as well as for specialized structural and industrial applications. Resolute Forest Products was founded on January 25, 2007 and is headquartered in Montreal, Canada.

Awards & Honors
Rank #793
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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