Blue Wolf Capital, Atlas Holdings to Acquire Paper Mill

Blue Wolf Capital Partners, New York, and Atlas Holdings, Greenwich, Conn., have reached an agreement to acquire a controlling interest in Twin Rivers Paper Co. Inc. from Brookfield Asset Management Inc., Toronto.   

The transaction is expected to close in by the end of June 2013. Blue Wolf and Atlas, New York-based private investment firms, have extensive backgrounds in the forest products companies in North America.

Twin Rivers, with facilities in Edmundston and Plaster Rock, New Brunswick, and Madawaska, Maine, produces specialty papers and lumber. Through the acquisition of a controlling stake in Twin Rivers, Atlas and Blue Wolf say they 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,” says 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,” says Tim Fazio, managing partner of Atlas Holding.

Together, the two private equipment firms operate a range of companies in the sector, including Northern Resources Nova Scotia Corp., a pulp mill located in Pictou, Nova Scotia, and Finch Paper Holdings LLC, 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 about 30 locations in North America, Europe and Asia focused on these markets. Blue Wolf has been investing in the forest products industry since 2007 and currently owns seven companies in the United States, primarily manufacturing businesses, including two building products companies.