Blue Wolf Capital Partners and Atlas have completed the deal to acquire a controlling interest in integrated specialty paper company Twin Rivers Paper from Brookfield Asset Management for an undisclosed sum.
The key pillars of the business strategy include ensuring manufacturing capability in lightweight papers and expanding specialty markets, and expanding sawmill operation and lowering wood costs.
Twin Rivers chief executive officer Tim Lowe said, "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."
Together, the investment firms will collaborate with stakeholders to build investee companies into sustainable enterprises in Canada as well as the US.
Twin Rivers, with facilities in Edmundston and Plaster Rock, New Brunswick, and Madawaska, Maine, produces specialty papers and lumber for a variety of markets.