Twin Rivers Paper Company in takeover

Twin Rivers supplies specialty packaging, label and publishing papers. With Atlas Holdings and Blue Wolf Capital Partners taking a controlling stake in the business, a new board of directors and leadership team has been formed who have been tasked with building a growing, profitable business and creating long-term value.

Adam Blumenthal, managing partner of Blue Wolf, Tim Fazio, managing partner of Atlas Holdings, and new Twin Rivers chief executive officer Tim Lowe, join existing board members in setting the strategic direction for the company.

Lowe said: ‘We are turning our attention to building a growing, profitable business. We are focused on bringing new resources, operational expertise and a commitment to the future of the business.’ 

Joining Lowe on the new executive team for Twin Rivers Paper Company are Wayne Gosse, chief financial officer, Jean-Pierre Grenon, vice-president of forestry and sawmill operations, and Adam Levy, chief restructuring officer. 

Twin Rivers, with facilities in Edmundston and Plaster Rock, New Brunswick, and Madawaska, Maine, produces 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.

The new strategic focus will center on ensuring exceptional manufacturing capability in lightweight papers and expanding specialty markets, operating more efficiently and safely, expanding sawmill operation and lowering wood costs, and supporting local management and committed ownership.

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

‘We recognize both governments’ strategic commitment to their respective value-added wood industries, and we are confident that our plan will result in a sustainable business that will be well-positioned to thrive over the long-term, preserving hundreds of well-paying jobs and bolstering the local communities within which Twin Rivers operates, as well as protecting the company’s position within the region’s overall forestry industry – today, and in the future.’