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TD Bank Provides $23MM ABL to Atlas Paper Holdings

July 14, 2015, 08:09 AM
Filed Under: Paper

TD Bank announced their Asset Based Lending Group ("ABL") has provided $23 million in financing to Atlas Paper Holdings. 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.

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