Palm Beach Capital, through one of its investment entities, announced that it has acquired Atlas Paper Mills. Terms of the transaction were not disclosed. The transaction marks the seventh equity investment by Palm Beach Capital during 2006.
Founded in 1981 and located in
“Atlas Paper Mills is a wonderful acquisition for our firm,” stated Mike Schmickle of Palm Beach Capital. “It fits exactly within our investment criteria of being a well-run, growing company. And, the opportunity to partner with an experienced, entrepreneurial management team was very attractive to us. We believe that Atlas has a solid foundation from which to build whether through complementary acquisitions or through investment in capacity generating equipment.”
Palm Beach Capital also announced that key operating management participated in the transaction. Roberto Gonzalez, Robert Paskow and Rosa Thuemler will each have an increased role at the company heading up operations, sales and administration, respectively.
Rob Paskow, executive vice president of sales, stated, “Having an equity partner like Palm Beach Capital enables us to accelerate our aggressive growth plans for the company. We have our sights set on expanding our operations both in terms of increasing production capacity in existing tissue paper product lines and enhancing our capabilities in the manufacture of complementary paper towel and facial tissue items. The capital of our new partners gives us that ability.”
Atlas is a vertically integrated manufacturer with two papermaking machines and seven converting lines and operates from over 300,000 square feet of facilities. Servicing more than 350 customers throughout the
Palm Beach Capital was assisted by LaSalle Bank National Association on this transaction.
