Atlas Holdings and Blue Wolf Capital Complete Acquisition of Controlling Interest in Twin Rivers Paper
June 10, 2013 - Atlas Holdings and Blue Wolf Capital Partners have completed the acquisition of controlling interest in Twin Rivers Paper Company. In addition, a new board of directors has been formed.
Twin Rivers, with facilities in Edmundston and Plaster Rock, New Brunswick, and Madawaska, Maine, produces specialty papers and lumber for a variety of markets.
Adam Blumenthal, Managing Partner of Blue Wolf, Tim Fazio, Managing Partner of Atlas Holdings, and new Twin Rivers’ Chief Executive Officer, Tim Lowe, join existing board members. Joining Lowe on the new executive team for Twin Rivers are Wayne Gosse, Chief Financial Officer, Jean-Pierre Grenon, Vice President Forestry and Sawmill Operations, and Adam Levy, Chief Restructuring Officer.
“We are turning our attention to building a growing, profitable business,” says Tim Lowe. “We are focused on bringing new resources, operational expertise and a commitment to the future of the business.”
Key areas of focus include:
- Ensuring exceptional manufacturing capability in lightweight papers and expanding specialty markets
- Operating more efficiently and safely
- Expanding sawmill operation and lowering wood costs
- Local management and committed ownership
“We welcome the early support received from employees, union leaders, community stakeholders and government partners to collaborate on a successful business strategy,” said Lowe. “We begin the transition today with a 12- to 18-month plan to ensure Twin Rivers can compete and thrive long-term in the extremely competitive forest products industry.”
SOURCE: Twin Rivers Paper Company