Twin Rivers to be Acquired by Atlas Holdings and Blue Wolf Capital
Summary
Blue Wolf and Atlas, both New York-based private investment firms, have long track records of building forest products companies in North America.Twin Rivers, with facilities in Edmundston and Plaster Rock, New Brunswick, and Madawaska, Maine, has been a vital economic engine for the region for over 80 years, producing specialty papers and lumber for a variety of markets. 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.Twin Rivers is a major employer in New Brunswick and northern Maine, and the acquisition was welcomed by a wide variety of constituencies.We have a proud history in our forest sector and certainly recognize the strategic importance of the Twin Rivers operation. These investors have a track record of successful change in forest products companies, and we look forward to working with them as they implement their strategy.Dave Coles, President of the Canadian Energy and Paperworkers Union, which represents workers at Twin Rivers operations in Edmundston and Plaster Rock, New Brunswick said, We have long represented workers at companies owned by Atlas and Blue Wolf, and we know them to be thoughtful and creative investors who are committed to the industry. We expect the new owners will be dedicated to ensuring the sustainability of this company into the future.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 United States including, Northern Resources Nova Scotia Corporation (Northern Resources), a pulp mill located in Pictou, Nova Scotia, and Finch Paper Holdings LLC, an integrated pulp and paper business located in Glens Falls, New York.Separately, Atlas Holdings has been investing and operating in the forest products, packaging and paper industries since 1999. For additional information, please visit: www.twinriverspaper.com.Blue Wolf Capital Partners LLC is a private equity firm that invests in companies in which effective management of relationships with complex constituencies, such as government and labor, can change organizations and create value.