BD White Birch Investment LLC Completes Acquisition of White Birch Paper

Sept. 19, 2012 - BD White Birch Investment LLC yesterday announced the successful completion of the acquisition of the assets of White Birch Paper Company.

According to the company, the completion of the acquisition represents the successful culmination of a nearly three year restructuring process, resulting in the formation of a newly revitalized and competitive enterprise.

"I am pleased that the conclusion of the restructuring process, together with significant new investment by the Brant Family and the Black Diamond-led investment group, has resulted in a healthier, better capitalized company," said Peter Brant, Chief Executive Officer of the new White Birch.

"The process of turning this company around would not have been possible without the support of our management team, new investors and the strong belief by all of our employees that this is a vital business that is well positioned to succeed in the global paper market for years to come. "

White Birch: BD White Birch Investment LLC and its affiliates are manufacturers of high-quality newsprint, directory paper and paperboard, with mills located in Canada and the United States, and the second largest newsprint manufacturer in North America.

Black Diamond Capital Management, L.L.C. is an independently owned credit focused alternative investment firm founded in 1995. It is experienced in both performing and distressed markets, investing across four complementary platforms: Control Distressed/Private Equity, Hedge Fund, Mezzanine Funds and CLOs and other structured vehicles. BDCM is a registered Investment Adviser that employs more than 80 people across multiple offices, including Greenwich, CT, Lake Forest, IL and London, England.

SOURCE: BD White Birch Investment LLC

See related stories:
- Newsprint Maker White Birch Paper Files for Creditor Protection in Canada, U.S. (2/24/2010)
White Birch Paper Announces Auction Results