Blue Wolf Capital Partners and Atlas have signed an agreement to acquire a controlling interest in Twin Rivers Paper from Brookfield Asset Management for an undisclosed value.
The US-based private investment firms will work with Twin Rivers in the development of its long-term capital and growth plans.
Blue Wolf managing partner Adam Blumenthal said Twin Rivers produces specialty papers and lumber products that are regarded throughout the industry.
"Our plan is to build on these strengths as we seek to position the operations for long-term success and as a key contributor in the revitalization of the forest products sector in Maine and New Brunswick," Blumenthal said.
Together, the investment firms will collaborate with stakeholders to build investee companies into sustainable enterprises in Canada as well as the US.
The companies include Northern Resources Nova Scotia, a pulp mill in Pictou, Nova Scotia, and Finch Paper, an integrated pulp and paper business in Glens Falls, New York.