Atlas Holdings, Blue Wolf Capital to Acquire Twin Rivers
 Print this article | Send to Colleague
Blue Wolf Capital Partners, New York, N.Y, USA, and Atlas Holdings, Greenwich, Conn., this week announced that they have reached an agreement to acquire a controlling interest in Twin Rivers Paper Co., South Portland, Maine, USA, from Brookfield Asset Management Inc. Terms of the agreement have not been disclosed. The transaction is expected to close in approximately three weeks.
Twin Rivers, with facilities in Edmundston and Plaster Rock, N.B., Canada, and Madawaska, Maine, USA, has been a vital economic engine for the region for more than 80 years, producing specialty papers and lumber for a variety of markets. Through the acquisition of a controlling stake in Twin Rivers, Atlas and Blue Wolf are showing their commitment to the future of the business, and will work with the company in the development of its long-term capital and growth plans.
"Twin Rivers produces specialty papers and lumber products that are well regarded throughout the industry. Our plan is to build on these strengths as we seek to position the operations for long-term success and as a key contributor in the revitalization of the forest products sector in Maine and New Brunswick," said Adam Blumenthal, managing partner of Blue Wolf.
"With the active support, direction, and guidance our firms bring, we believe we can provide Twin Rivers with additional resources to address its capital needs, cost structure, market exposure, and other critical operational challenges presented by the highly competitive forest products industry," said Tim Fazio, managing partner of Atlas Holdings.
Together, Blue Wolf and Atlas Holdings have a depth of experience in successfully collaborating with stakeholders to build investee companies into sustainable, highly competitive enterprises in both Canada and the U.S., including Northern Resources Nova Scotia Corp., a pulp mill located in Pictou, Nova Scotia, and Finch Paper Holdings, an integrated pulp and paper business located in Glens Falls, N.Y.
Separately, Atlas Holdings has been investing and operating in the forest products, packaging, and paper industries since 1999. Atlas currently owns approximately 30 locations in North America, Europe, and Asia focused on these markets, employing more than 5,000 people. Blue Wolf has been investing in the forest products industry since 2007, and currently owns seven companies in the U.S., primarily manufacturing businesses, including two building products companies.
|
|
