JGT2 Redevelopment LLC has acquired the Androscoggin Mill in Jay with plans to auction its equipment and repurpose the site for new industrial uses.

Target Information

The Androscoggin Mill, located in Jay, has a storied history spanning 59 years, marked by various ownership changes and significant operational challenges. Recently, it was sold by Pixelle Specialty Solutions to JGT2 Redevelopment LLC, a consortium consisting of New Mill Capital Holdings, Infinity Asset Solutions, and Camjay LLC. This transaction was triggered following a devastating explosion that led to layoffs and the eventual cessation of mill operations in March 2023.

The acquisition encompasses a vast 1,000-acre site that includes not only the mill itself but also valuable infrastructure such as a wastewater treatment facility and a cogeneration power plant. The new owners have announced plans to auction the mill's paper-making equipment and seek alternative uses for the expansive real estate.

Industry Overview

The Franklin County area, and Jay in particular, has been a significant player in the papermaking industry since the establishment of its first mill in 1892. The Androscoggin Mill was a pivotal contributor to the local economy, employin