We're very pleased with their flexibility and how quickly they were able to get this deal done.
OLD GREENWICH, Conn. (PRWEB) June 19, 2007
The credit facility consists of a $25 million revolver, a $40 million term loan and a $25 million second lien loan. The facility will be used to acquire Finch, Pruyn & Company, a manufacturer of premium paper located in upstate New York.
"FirstLight was able to underwrite and commit to this deal in a short time frame, which was a top priority," said Andrew Bursky, Managing Partner of Atlas Holdings. "We're very pleased with their flexibility and how quickly they were able to get this deal done."
"We are very excited to have completed our first deal as lead arranger so soon after we started the business," said Ron Carapezzi, President & CEO of FirstLight. "This is a great example of the types of deals we hope to do more of in the future."
About FirstLight Financial Corporation:
FirstLight Financial Corporation is a commercial finance platform offering customized financings primarily for middle market companies across a broad spectrum of industries. Newly formed by a team of seasoned professionals who share a long-term, client-focused mindset, FirstLight offers a unique, personalized experience characterized by reliability, responsiveness, creativity and integrity. For more information, visit http://www.firstlightfinancial.com.
About Atlas Holdings LLC:
Atlas Holdings LLC operates businesses in a number of industrial sectors, including the paper, packaging, wood products and steel industries. Atlas operates four paper mills and nine packaging plants throughout North America. Overall, Atlas operates facilities in more than 30 locations throughout North America and Europe. With the addition of Finch, Atlas' affiliated companies will employ approximately 3,000 people. For additional information, please visit http://www.atlasholdingsllc.com.
About Blue Wolf Capital Management LLC:
Blue Wolf Capital Management LLC is a private equity firm that invests in companies in which effective management of relationships with complex constituencies, such as government and labor, can change organizations and create value. For additional information, please visit http://www.blue-wolf.com.
About Finch, Pruyn & Co., Inc.:
Finch, Pruyn & Co., Inc. was founded in 1865 as a sawmill, lumberyard and quarry operation on the Upper Hudson River in upstate Glens Falls, NY, and began papermaking operations in 1904. Today, the company is a leader in the premium uncoated printing paper market, manufacturing more than 250,000 tons per year for advertising materials, book publishing and business office uses from its single Glens Falls mill. The company employs approximately 850 people and is the second-largest private landowner in New York State. Finch Paper is recognized throughout the graphic design and printing industries for outstanding brightness, smoothness and print reproduction. The company is also widely regarded for its customer service and its extensive stocking program, with more than 500 different items available for immediate shipment coast-to-coast. Additional information can be found at http://www.finchpaper.com.