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)

3,700

Industries

Paper Products
Other Business & Consulting Services
Industrial Machinery & Manufacturing
Alternative Energy

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.

Contact Data
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Executives & Employees

President & Chief Executive Officer

Principal Accounting Officer, Senior Vice President & Chief Financial Officer

Senior Vice President of Sales & Marketing

Senior Vice President-Manufacturing & Energy

Senior Vice President, Human Resources & Communications

Co Chairman

Chief Operating Officer

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

Deputy General Counsel

Chief Technology Officer

Board of Directors

Former President & Chief Executive Officer at Neenah, Inc.

Former Partner at Oak Hill Advisors LP

Founder at The Sorrel Group LLC

Vice President at Bon L Manufacturing Company

Member-Business Affairs Strategic Committee at The Brazilian-American Chamber of Commerce, Inc.

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Owners & Shareholders
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SCW Capital utilizes a range of investment strategies, including investing in publicly traded equity securities, both long and short, as well as a broad array of other securities in both private and public markets. The funds’ primary focus is to find both undervalued and overvalued securities, based principally on fundamental bottom-up research of individual companies. The firm generally looks for potential long investments with attractive valuations, sustainable and strong free cash flow profiles, strong balance sheets, stable and growing margins, and potential positive catalysts, among other factors. SCW Capital seeks to preserve capital through risk management and actively monitors gross and net exposure, trading liquidity of positions, and draw downs, in addition to other exercises.

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DS&C is a deep-value manager that employs a disciplined bottom-up approach. They invest in stocks of out-of-favor companies selling at discounts to tangible book value. The firm tries to look for companies in the bottom decile of price-to-tangible book value ratios and a positive outlook for earnings potential over the next 2-4 years. DS&C utilizes fundamental security analysis and basic research. Their intensive research tries to determine which of these low price/tangible book value stocks will turn around and achieve their earnings potential. The firm’s primary approach is bottom up while they do closely follow and analyze broad economic and sector trends. They will first find a cheap stock and then see if their industry and economic views support their individual company thesis. DS&C’s in-depth research includes time spent reading company documents and speaking/meeting with company management. They try to have multiple phone conversations with company management to familiarize themselves with their strategies, beliefs and intentions before investing in any company.

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Skylands Capital generally invests in a varied portfolio of common stocks of U.S.-based corporations. They may also invest in any eligible investment including, but not limited to, fixed income securities, convertible securities, preferred stocks, equity options and foreign equity and debt securities. The funds may engage in futures transactions, sell short, employ leverage, purchase illiquid securities, trade IPOs and secondary public offerings, write put and call options, and use various derivative instruments for hedging, managing risk or enhancing returns. Certain separate accounts may make similar investments subject to the client's investment advisory agreement or as directed by the client.

Recent Transactions
Details Hidden

Lindsay Goldberg, LLC, Pixelle Specialty Solutions LLC purchase Verso Androscoggin LLC from Verso Corp.

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ESGTI SA purchases Upland Resources, Inc. from Verso Corp.

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

Transaction Advisors
Legal Advisor

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

Legal Advisor

Advised onLindsay Goldberg, LLC, Pixelle Specialty Solutions LLC purchase Verso Androscoggin LLC from Verso Corp.

Investment Advisor

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

Legal Advisor

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

Legal Advisor

Advised onLindsay Goldberg, LLC, Pixelle Specialty Solutions LLC purchase Verso Androscoggin LLC from Verso Corp.

Associate

Advised onLindsay Goldberg, LLC, Pixelle Specialty Solutions LLC purchase Verso Androscoggin LLC from Verso Corp.

Advisors & Consultants
Legal Advisor

Partner at O'Melveny & Myers 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. operates as a media, information, and services company. It engages in broadcasting; and provides magazines and newspapers. The company was founded by William Randolph Hearst on March 4, 1887 and is headquartered in New York, NY.

Quad/Graphics has been a breakaway company since Day One. The late Harry V. Quadracci founded the company in 1971 with the belief that doing things differently – and better – could propel a tiny upstart into an industry-leading printer. Today, Quad/Graphics is a leading global provider of print and multichannel solutions for consumer magazines, special interest publications, catalogs, retail inserts/circulars, direct mail, books, directories, and commercial and specialty products with 50-plus print-production facilities on three continents. Our employees are encouraged to think and act like owners and innovate solutions that push print's boundaries to strengthen its value to clients. As a printing industry innovator, we are committed to redefining the power of print in a multimedia world. We've ramped up the aggressiveness of ink on paper by strategically applying data to create targeted, relevant print messages and then connect those messages with other forms of digital, mobile, electronic and online media. This way, marketers and publishers can get the right message to the right person at the right time to maximize response and revenues. Our mission We are a value-driven company committed to our clients, employees, shareholders, communities and the environment. As the industry leader, we take print to a higher level through service, quality and technological innovation. We will grow our clients' profitability by providing high value at a lower per-piece cost.

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.

Key Stats and Financials As of 2019
Market Capitalization
$435M
Total Enterprise Value
$612M
Earnings Per Share
$2.73
Revenue
$2.44B
Net Profit
$96M
EBITDA
$202M
EBITDAMargin
8.27%
Total Debt
$21M
Total Equity
$1.01B
Enterprise Value / Sales
0.25x
Enterprise Value EBITDAOperating
2.96x
TEVNet Income
6.38x
Debt TEV
0.03x
Three Year Compounded Annual Growth Rate Of Revenue
-2.55%
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 provision of payment and information processing solutions. It operates through the following segments: Information Services; Banking Services; and Corporate, Elimination, and Other. The Information Services segment offers transportation, energy, telecommunication, and environmental invoice processing and payment services to large corporations. The Banking Services segment focuses on the provision of banking services primarily to privately held businesses and faith-based ministries. The company 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.

Minerals Technologies Inc. Engineering, Construction & Architecture | New York, NY

Minerals Technologies, Inc. is a resource and technology-based company. It develops, produces, and markets a range of mineral, mineral-based, and synthetic mineral products. It operates through the following four segments: Performance Materials, Specialty Minerals, Refractories and Energy Services. The Performance Materials segment supplies bentonite and bentonite-related products, chromite and leonardite. The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate and processed mineral product quicklime, and mines mineral ores then processes and sells natural mineral products, primarily limestone and talc. The Refractories segment produces monolithic and shaped refractory materials and products, and also provides services and sells application and measurement equipment, and calcium metal and metallurgical wire products. The Energy Services segment provides services to improve the production, costs, compliance, and environmental impact of activities performed in oil & gas industry. The company was founded on February 19, 1968 and is headquartered in New York, NY.

Competitors
Nine Dragons Paper Holdings Ltd. Paper Products - Hong Kong

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, Finland

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 Specialty Papers, UPM Communication Papers, UPM Plywood and Other operations. The company was founded in 1995 and is headquartered in Helsinki, Finland.

Sappi Limited Paper Products - Johannesburg, Zaf

Sappi Ltd. operates as a holding company, which engages in the provision of wood-fiber based solutions. The firm operates through the following geographical segments: Europe, North America, and Southern Africa. Its products include dissolving wood pulp, printing papers, packaging and specialty papers, casting and release papers, biomaterials, and forestry. The company was founded on December 17, 1936 and is headquartered in Johannesburg, South Africa.

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