Twin Rivers Paper Company announces the acquisition of controlling interest in the company by Atlas Holdings and Blue Wolf Capital Partners, and the formation of a new board of directors and leadership team.

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Atlas Holdings and Blue Wolf Capital complete acquisition of controlling interest in Twin Rivers Paper

Jun 10, 2013. /Lesprom Network/. Twin Rivers Paper Company announces the acquisition of controlling interest in the company by Atlas Holdings and Blue Wolf Capital Partners, and the formation of a new board of directors and leadership team.

Adam Blumenthal, Managing Partner of Blue Wolf, Tim Fazio, Managing Partner of Atlas Holdings, and new Twin Rivers' CEO, Tim Lowe, join existing board members in setting the strategic direction for the company. Joining Mr. Lowe on the new executive team for Twin Rivers Paper Company are Wayne Gosse, CFO, 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."

The new management team brings many decades of leadership experience in the forest products industry. Mr. Lowe and Mr. Gosse previously led the successful operational and financial turnaround of Northern Resources Nova Scotia Corporation, an integrated forest products company located in Pictou, Nova Scotia. Before their work at Northern, Mr. Lowe held multiple operational positions at Domtar, including General Manager of the Woodlands, Maine pulp mill; Mr. Gosse held multiple finance positions at Neenah Paper and Kimberly Clark. Prior to joining Twin Rivers, Mr. Grenon has had a distinguished career, leading forestry operations at Domtar, Donohue, and as an independent industry consultant. Adam has 20 years' leadership experience in business transformations, including carve-outs, growth situations and turnarounds, working throughout the U.S. and Canada. He's worked with companies ranging from $100 million to $1 billion in revenue in a wide range of industries.

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. The new leadership team will build upon the existing foundation with a view to improving market focus and increasing profitability.

"We welcome the early support received from employees, union leaders, community stakeholders and government partners to collaborate on a successful business strategy," says 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."

Twin Rivers is an integrated specialty paper company that manufactures packaging, label and publishing products, with mill operations in Madawaska, Maine, and Edmundston, New Brunswick. Twin Rivers also operates a lumber sawmill located in Plaster Rock, New Brunswick.