New Mill Capital LLC Acquires Five-Piece Property Portfolio From Quad/Graphics, International Printing Giant From Wisconsin

Online, February 26, 2013 (Newswire.com) - New Mill Capital LLC of Los Angeles (www.NewMillCapital.com (http://www.newmillcapital.com/)), the main liquidation/monetization cog in the adaptive reuse development machine that is Industrial Realty Group (IRG, www.IndustrialRealtyGroup.com), also based in Los Angeles, recently acquired a five-pronged fleet of facilities from international printing conglomerate Quad/Graphics of Wisconsin, with plans to transform the opportunity into that most cherished asset in a rebounding economy: jobs.

The five-facility transaction closed Friday, Feb. 22, for an undisclosed price, with New Mill Capital (NMC) already selling off one piece on closing day: a former Quad/Graphics printing plant in Jonesboro, Ark., to a confidential buyer, a national brand in the packaging industry committed to creating new jobs via expanded packaging lines. The four remaining Quad/Graphics properties, including a spectacular printing plant in Virginia, are being recast in signature IRG/NMC mode of adaptive reuse, to maximize value for client(s), buyers, sellers and communities alike.

"We will be investing in the real estate, making improvements as we see fit in each of the individual scenarios, keeping in mind our ultimate goal, which is to find anchor tenants who will bring jobs and new business opportunities for these communities," said Gregory Schain, executive vice president of New Mill Capital.

Mr. Schain works out of the private equity firm's New York City offices; NMC also operates in Chicago and Los Angeles. His partners are Mr. Tim Watters, executive vice president, and Stu Lichter, president of IRG.

The other Quad/Graphics facilities, besides the printing plant in Virginia (Henrico), are a multi-purpose manufacturing, warehousing and office facility in Mt. Morris, Ill.; and two multi-purpose facilities in Tennessee, in Memphis (industrial/warehouse) and in Covington (manufacturing, warehousing and office). All properties are detailed under the "Asset Sales" tab on the NMC website (www.NewMillCapital.com).

Adaptive reuse, Value-added Monetization, an 'A List' of Clients

New Mill Capital's forte is providing "comprehensive asset solutions for the industrial marketplace," which, in tandem with IRG, New Mill Capital's parent, the private equity firm performs for A-list corporate clients such as Goodyear, General Motors, GE, Sara Lee, Whirlpool and Ford Motor Co., to name a few. Primary services are value-added equipment liquidation and monetization, which it conducts as webcast and online auctions, as well as traditional sales transactions.

"We are capable of monetizing assets in a variety of ways. Our first priority is always to see businesses continue to operate as ongoing concerns, but circumstances arise in which distressed companies need to liquidate assets," said Mr. Watters. "Moving forward, with these new Quad/Graphics properties, we plan to remain flexible, and stay aggressive with leasing terms."

Watters is versed in all phases of the auction and asset liquidation industry, and manages all personal property asset acquisitions and dispositions for NMC. He's conducted over 250 auction acquisitions, grossing more than $400 million, while selling assets to and from Fortune 500 and 1000 companies across the globe.

New Mill Capital also offers Debtor-in-Possession (DIP) financing secured by real and/or personal property in order to provide short-term liquidity to industrial companies that have an immediate need for cash. The company's principals have a long track record of providing successful DIP loans, allowing companies to meet working capital needs, invest in projects, or simply bridge a gap while permanent financing is secured.

Auctions start tomorrow in Memphis - next month (March 2013) for Arkansas, Virginia

Up first, as in tomorrow, Tuesday, Feb. 26th: an onsite auction of the Memphis industrial/warehouse property, a 276,000-square-foot complex on 22 acres. The action starts at 11 a.m. (CST) and will conclude the same business day. The East Holmes Road property, near Elvis Presley Boulevard in south Memphis, is a little more than three miles south of Graceland. Details are here: http://www.newmillcapital.com/default.aspx?pid=64

In March, both the Jonesboro (AR) and the Virginia printing plants will be sold via online auction. Check back to the New Mill Capital website (www.NewMillCapital.com) for details and updates. At Jonesboro, buyers will be able to get their hands on printing press parts and spare parts, machine tools, printing support equipment, material handling equipment, chillers, compressors, bailers, pulverizers, rolling stock, regenerative thermal oxidizers, shop and line support equipment, switchgear, substation electrical and general printing plant support equipment. Details for the Arkansas auction are here: http://www.newmillcapital.com/online-auction---former-qua...

The gem of the Quad/Graphics package is the Virginia plant, a 249,000-square-foot property in Henrico (227,000 SF of industrial, 22,000 SF of office on 10 acres, with three+ acres nearby). The Virginia auction is here: http://www.newmillcapital.com/online-auction---former-quad-graphics-printing-facility-richmond. The Mt. Morris property in Illinois, 404 N. Wesley Ave., 61054, is a 587,000-square-foot manufacturing, warehousing and office facility available for sale or lease: http://www.newmillcapital.com/default.aspx?pid=67. The Covington property in Tennessee, 4000 Highway 51 North, 38019, is a 547,000-square-foot manufacturing, warehousing and office facility available for sale or lease: http://www.newmillcapital.com/default.aspx?pid=66.

Prior to founding New Mill Capital, Mr. Schain managed all turnkey assets for Counsel RB Capital, including acquisitions, due diligence, leasing, asset and property management, financial analysis, strategic and disposition. He manages all real property acquisitions, transactional and financing services for NMC.

"While this might not be our biggest acquisition, it's certainly one of the larger deals we've done," said Schain. Besides the printing industry, NMC has conducted auctions and/or liquidations for industries ranging from food processing and packaging to steel, semiconductor, cosmetics and textiles. Previous turnkey projects (facility and asset sales) have been provided for National Gypsum in Pennsauken, NJ (200,000 SF); Contract Pharmaceuticals Ltd. in Buffalo, NY (500,000 SF); Kaiser Aluminum in Mead, WA (1.6M SF); National Gypsum in Lorain, OH (200,000 SF); and Sara Lee in Paris, TX (350,000 SF).

For more information about NMC, founded in 2011 and run by the Schain/Watters/Lichter team, call (888) 801-6032 or visit www.NewMillCapital.com. Mr. Schain can be reached at (646) 578-8193 or [email protected]; Mr. Watters at (818) 495-6512 or [email protected]; Mr. Lichter at (888) 801-6032 or [email protected]. Media inquiries, contact Andy Hemmer (513) 604-5428/[email protected].