The asset based lending group of TD Bank has provided $23 million in financing to Atlas Paper Holdings to finance a recapitalization of the company’s existing debt. Peak Rock Capital acquired Atlas Paper Mills in May 2013 and Atlas Southeast Papers in September 2014. The two businesses were then combined and held under the ownership of Atlas Paper Holdings.
Atlas Paper is a manufacturer of tissue products using both virgin and recycled fiber. The company supplies private label and branded bath tissue, facial tissue and towels, along with cocktail, dinner and dispenser napkins to a mix of customers operating in the in the away-from-home and value retail channels. Atlas Paper is headquartered in Miami (www.atlaspapermills.com).
Joseph Nemia, Head of Asset Based Lending, led the transaction for TD. “TD Bank’s depth of experience working with the middle-market private equity community, coupled with our flexible asset based lending products, positioned us as a natural financial partner for Peak Rock Capital and Atlas Paper,” said Mr. Nemia. “We’re excited to agent Atlas’ revolver financing, and to continue our long-standing relationship with Peak Rock.”
Peak Rock Capital makes debt and equity investments of $20 million to $150 million in middle market companies with revenues from $50 million to $1 billion and enterprise values from $25 million to $500 million. Sectors of interest include business and commercial services; consumer; distribution and logistics; energy and related services; healthcare; industrials; manufacturing, metals, and media. The firm is based in Austin (www.peakrockcapital.com).
“We are pleased to have partnered with TD Bank to facilitate the growth of Atlas through this debt recapitalization,” said Rob Pistilli, Principal at Peak Rock Capital. “TD Bank was great to work with, and we are excited to have their support and expertise as we continue to grow the Atlas Paper business.”
TD Bank is headquartered in Cherry Hill, NJ and is part of the TD Bank Group which in turn is a subsidiary of The Toronto-Dominion Bank (www.tdbank.com).
Moelis Capital Partners (www.moelisassetmanagement.com) served as an advisor to Atlas Paper on the transaction.
© 2015 PEPD • Private Equity’s Leading News Magazine • 7-14-15
