TD Bank Provides $23 Million in Financing to Atlas Paper Holdings
NEW YORK, July 14, 2015 /PRNewswire/ -- TD Bank, America's Most Convenient Bank®, announced today that their Asset Based Lending Group ("ABL") has provided $23 million in financing to Atlas Paper Holdings ("Atlas Paper" or the "Company"). The credit facility will also finance the debt recapitalization of the Company.
Headquartered in Miami, Fl., Atlas Paper is a leading manufacturer of tissue products, utilizing both virgin and recycled fiber. The company supplies private label and branded bath tissue, facial tissue and towels, along with cocktail, dinner and dispenser napkins to a diversified mix of customers in the away-from-home and value retail channels. Peak Rock Capital, an Austin, Texas-based private equity firm, acquired Atlas Paper Mills, LLC in May 2013, and Atlas Southeast Papers, Inc. in September 2014. The two businesses were subsequently combined into Atlas Paper Holdings.
Joseph Nemia, Head of Asset Based Lending at TD Bank, commented, "TD Bank's depth of experience working with the middle-market private equity community, coupled with our flexible ABL solutions, positioned us as a natural financial partner for Peak Rock Capital and Atlas Paper. We're excited to agent Atlas' revolver financing, and to continue our long-standing relationship with Peak Rock."
"We are pleased to have partnered with TD Bank to facilitate the growth of Atlas through this debt recapitalization," said Rob Pistilli, Principal at Peak Rock Capital. "TD Bank was great to work with, and we are excited to have their support and expertise as we continue to grow the Atlas Paper business."
Moelis Capital Partners served as an advisor on the deal.
About TD Bank, America's Most Convenient Bank®
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD." To learn more, visit www.td.com.
About Peak Rock Capital
Peak Rock Capital is a leading middlemarket private equity firm that makes debt and equity investments in companies in North America and Europe. Peak Rock focuses on investing in opportunities where it can support senior management in driving rapid growth and profit improvement through operational and strategic change. Peak Rock's principals have deep expertise in complex situations and cross border transactions, with the ability to provide tailored capital solutions and close transactions quickly where speed and certainty are priorities. For more information about Peak Rock Capital, please visit www.peakrockcapital.com.
SOURCE TD Bank
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