Forest Resources' debt refinanced with $48 million of junior capital

By Lisa Kerner

Charlotte, N.C., Jan. 25 - Atlas Holdings LLC used $48 million of junior capital from GarMark Partners and LBC Credit Partners and credit facilities to complete a $93 million refinancing of its operating company, Forest Resources LLC, according to a company news release.

Specifically, the proceeds were used to refinance Forest Resources' existing debt and for its ongoing working capital and general corporate needs.

Proceeds were also used to purchase the equity interests of a minority stakeholder in its Canadian subsidiary, CanAmPac ULC, making CanAmPac a wholly owned subsidiary of Forest Resources.

Lincoln International brokered the deal.

Forest Resources is a diversified manufacturer of recycled paper and packaging products with facilities in the United States and Canada.

Greenwich, Conn.-based Atlas Holdings specializes in the purchase and revitalization of middle-market companies in distress. Its businesses are engaged in such industries as food and agriculture, wood products and building materials, pulp and paper manufacturing, packaging, capital equipment, and industrial and business services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.