GREENWICH, Conn. (March 1, 2010) — Atlas Holdings LLC announced today it has acquired certain assets of North Pacific Group (“NPG”) related to NPG’s utility and construction, food and agriculture, and hardwood and industrial products divisions. The acquired assets now operate under a new company name and brand — Bridgewell™ Resources LLC. Terms of the transaction were not disclosed.
Headquartered in Tigard, Oregon, Bridgewell Resources is a global wholesale distributor and trading company serving retailers, manufacturers and other customers with a wide range of value-added services and products in four markets: wood products, food products, agricultural products and utility and construction products.
“Atlas Holdings is pleased to announce the formation of Bridgewell Resources LLC and the purchase of certain assets of North Pacific Group,” stated Atlas Holdings Chairman Andrew Bursky. “Bridgewell fits well with our core investment strategy of investing in businesses that are critical to the markets they serve, providing significant capability and expertise. The Bridgewell employees have unparalleled experience in their industries and are a welcome addition to the Atlas family. We are excited about this acquisition and eager to grow this new business alongside our experienced Bridgewell associates, valued suppliers and customers.”
Bursky indicated Bridgewell has hired more than 100 former North Pacific associates, who possess decades of knowledge and experience in their markets. As a part of the growing family of Atlas companies, he says Bridgewell is well capitalized, strong in all aspects of its operations, and better able to meet customer needs.
Atlas’ operations in the United States, Canada, and Europe encompass more than 40 facilities and 3,300 employees. Its businesses are engaged in a broad spectrum of industries, including building materials and wood products, pulp and paper manufacturing, packaging, capital equipment, and industrial services. Atlas specializes in the purchase of middle-market companies in distress or facing complex financial, labor, or environmental issues, including bankruptcy reorganizations, restructurings, and challenging corporate divestitures. It also works effectively with corporate owners to purchase discontinued and “carve-out” operations.
For more information about Bridgewell Resources, please visit the company’s new Web site at www.bridgewellresources.com.
For more information about Atlas Holdings, please visit www.atlasholdingsllc.com.