Locke Lord LLP advised Dichotomy Power LLC on the deal.
Sappi North America, Inc., a leading producer and supplier of diversified paper, packaging products and pulp, announced that it will sell its hydroelectric assets on the Presumpscot River in Maine to Dichotomy Power LLC, pending satisfactory completion of regulatory and other approvals. The move is designed to allow Sappi to focus on its core competencies and is consistent with Sappi’s recent restructuring of the Westbrook site.
The deal is expected to close by the end of calendar year subject to regulatory and other approvals.
Sappi North America, Inc., headquartered in Boston, is a market leader in converting wood fiber into superior products that customers demand worldwide.
Dichotomy Power LLC is a New York-based renewable-energy company engaged in the business of acquiring, renovating as needed, and operating hydroelectric assets in the United States, principally in the Northeast.
The Locke Lord team was led by Mike Malfettone (Picture). Additional assistance was provided by Ben Cowan, Eric Larson, Mark Miller, Rachael Beavers (all of Houston), Bruce Grabow, Brittany Batts (both of Washington, D.C.), David Bogan (Boston and Hartford), Steve Bright (Boston) and Amanda Kane (New York).
Involved fees earner: Brittany Batts – Locke Lord; Rachael Beavers – Locke Lord; David Bogan – Locke Lord; Stephen Bright – Locke Lord; Benjamin Cowan – Locke Lord; Bruce Grabow – Locke Lord; Amanda Kane – Locke Lord; Eric Larson – Locke Lord; Michael Malfettone – Locke Lord; Mark Miller – Locke Lord;
Law Firms: Locke Lord;
Clients: Dichotomy Power LLC;