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Blue Wolf Capital Partners and Atlas Holdings have agreed to acquire a controlling interest in Twin Rivers Paper Co. Inc. from Brookfield Asset Management Inc. Terms were not disclosed. Twin Rivers, with facilities in Edmundston and Plaster Rock, New Brunswick, and Madawaska, Maine, produces specialty papers and lumber for a variety of markets.
Blue Wolf and Atlas Holdings have collaborated to build investee companies into competitive enterprises in both Canada and the U.S. – including Northern Resources Nova Scotia Corp., a pulp mill in Pictou, Nova Scotia, and Finch Paper Holdings LLC, an integrated pulp and paper business in Glens Falls, NY.
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.
The transaction is expected to close in three weeks.