An affiliate of Peak Rock Capital, an Austin, Texas based private equity firm, sold Atlas Paper Holdings, Inc. to a subsidiary of Resolute Forest Products, Inc. (NYSE: RFP) (TSX: RFP), a global leader in the forest products industry with a diverse range of products, including newsprint, specialty papers, market pulp and wood products.
The financial terms of the deal were not disclosed.
Headquartered in Miami, Florida, and led by Jim Brown, Chief Executive Officer, Atlas Paper is a manufacturer of tissue products, utilizing both virgin and recycled fiber. The company supplies private label and branded bath tissue, facial tissue, towels, and cocktail, dinner and dispenser napkins to a diversified mix of customers in the away-from-home and value retail channels.
The company now plans to continue growing operations.
The affiliate of Peak Rock Capital had acquired Atlas Paper Mills in 2013, followed by the acquisitions of Accurate Paper Holdings and Atlas Southeast Papers in 2014 to create Atlas Paper.