Atlas’ Fourth Fund is “One and Done”

Atlas Holdings has held a first, final, and hard cap close of its fourth private equity investment fund, Atlas Capital Resources IV LP, with $3.1 billion of capital.

Atlas began fundraising for Fund IV in November 2020 and its institutional limited partners include a range of foundations, endowment funds, public and private pension funds and family offices.

Atlas was founded in 2002 by managing partners Andrew Bursky and Tim Fazio and is headquartered in Greenwich, Connecticut. The firm’s earlier fund, Atlas Capital Resources III LP, closed at its hard cap of $1.675 billion in April 2018.

“When we started Atlas, we never anticipated that it would become what it is today, and we are extremely humbled by the confidence in our team that this fund represents,” said Mr. Fazio. “Raising a fund nearly double the size of our last is not simply a recognition of our track record as investors and operators.  It is an affirmation of the extraordinary people across the world that have consistently put us in a position to win.”

Atlas is an industrial holding company that has more than 23 platform companies operating in a wide range of sectors with more than $10 billion in total revenues, more than 40,000 employees, and more than 250 facilities worldwide. Some of the sectors that Atlas invests in are aluminum processing, automotive, building materials, food manufacturing and distribution, packaging, paper, power generation and wood products.

“Atlas has established a well-defined and highly differentiated approach to both investing capital and supporting our existing businesses. That approach has remained constant for decades and has enabled our private equity funds to systematically deliver value to our investors,” said Mr. Bursky. “We are extremely grateful for the continued strong support from our long-standing institutional partners as well as the tremendous demand from a large group of new partners from across the globe.”

In addition to raising Fund IV, Atlas has been busy with transactions. In March, Atlas sold Merchants Metals, an Atlanta-headquartered national distributor of fence systems, to The Sterling Group. Atlas acquired Merchants Metals in 2015 through a corporate carve-out from Oldcastle Building Products. A few months earlier in December 2020, Atlas acquired LSC Communications, one of the largest producers of books in the United States and a manufacturer and distributor of magazines and catalogs. LSC, headquartered near Chicago in Warrenville, Illinois, was formed in 2016 as a spinoff from R.R. Donnelley and was acquired by Atlas through a bankruptcy court supervised sales process.

“As we look ahead, Fund IV will allow our exceptional team to take the next step in Atlas’ evolution and seize exciting new opportunities. While we have grown and will continue to do so, we will stay true to our roots, investing in sectors where we have developed expertise and partnering with our leadership teams to create great businesses over the long term,” said Jacob Hudson, an Atlas managing partner.

Capstone Partners was the placement agent on Fund IV and Proskauer Rose provided legal services.

© 2021 Private Equity Professional | April 1, 2021

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