LOS ANGELES FIRM ACQUIRES FORMER WHEELING CORRUGATING PLANT

BEECH BOTTOM, W. VA. — Los Angeles-based Hackman Capital Partners LLC has purchased the former Wheeling Corrugating plant in Beech Bottom at auction from RG Steel Wheeling LLC. The Business Development Corp. (BDC) of the Northern Panhandle, a nonprofit organization, received the property’s title following its auction and sale. Hackman Capital Partners and the BDC will develop and lease the site. Beech Bottom was one of RG Steel’s last held manufacturing facilities after the company filed for Chapter 11 bankruptcy this year. Hackman Capital Partners specializes in sourcing real estate and equipment deals through bankruptcies, turnarounds and financial restructurings. The Los Angeles firm sourced the deal with National Machinery Exchange and Capital Recovery Group, and is working in cooperation
with the BDC. The 600-acre site sits on the Ohio River and includes 150 acres available for development.