… a recession, a colleague at another firm asked Blumenthal to consider investing in a paper mill in Nova Scotia. The mill, Pictou Pulp, manufactured northern bleached softwood kraft, a strong fiber that was used to create high-quality paper products. The mill had been run as a cost center for various public companies, and it had not made money in 40 years. In 2008 it was owned by Neenah Paper, a small spin-off of non-core assets from Kimberly-Clark. Neenah was looking to divest …