Black Pearl Capital Partners (BPCP) has made yet another acquisition of the Blackburn paper mill in UK.
The paper mill spans 118 A and was formerly known as the Sappi Paper Mill. Blackpearl has already acquired a number of mills as part of UK’s initiative to develop renewable energy parks. These energy parks have been created to create clean energy from biomass, bio-fuels and water treatment.
The paper mill located at Feniscowles is the third acquisition by BPCP. Aternum Capital also participated in the acquisition as the asset manager and co-investor. A plant for the generation of renewable power is proposed for development at the site. There is also a proposal for a residential redevelopment project at the site. The CEO of Black Pearl Capital was enthusiastic of the acquisition and regarded it as having promising potential for generating a number of jobs for the local people once the development is underway. BPCP has commenced demolition activities at the previously acquired Castleford site as part of the decommissioning and decontamination of the chemical plant that is currently present at the site. The demolition work at the site is planned in such a way that the ground conditions are left unaffected. The remediation exercise will commence during the early part of next year. A number of industry experts will be taking part in the remediation process at various sites.