GREENWICH, Conn. (June 8, 2010) – Atlas Holdings LLC (“Atlas”) today announced the final closing of Atlas Capital Resources LP (the “Fund”) with total capital commitments of $365 million, well in excess of the Fund’s original target of $250 million. Atlas focuses on control investments in North American companies experiencing financial or operational stress, benefiting from Atlas’ ability to resolve operational challenges while executing complex financial transactions. Atlas has been an active acquirer of businesses through bankruptcy purchases, out-of-court restructurings and reorganizations as well as underperforming or discontinued operations from corporate sellers. Atlas will continue to pursue these strategies, with a particular focus on industrial sectors in which Atlas has substantial operating experience.
Historically, the Atlas principals, together with participation from co-investors and operating partners, have acquired businesses through Atlas Holdings LLC, a diversified holding company with approximately $1 billion in revenue. Atlas elected to raise its first institutional fund to address the expanded and compelling market opportunity in distressed industrial companies. The firm’s proven investment strategy, team and historical track record attracted a diverse group of domestic and international LPs.
Commenting on the final close of the Fund, Andrew Bursky, Atlas’ co-Founder and Managing Partner, stated, “For the last eight years, we have enjoyed many successes with our family of partners. The opportunities today in our target space are tremendous and we are excited to be joined by a new group of partners with whom we look forward to similar success.”
Capstone Partners (“Capstone”) acted as exclusive placement agent for the Fund, marketing in North America, Europe and Asia. Despite the challenges presented by depressed capital markets, Capstone completed the fundraise in 10 months with investor interest well in excess of the Fund’s hard cap.
About Atlas Holdings LLC
Atlas Holdings LLC operates businesses in a number of industrial sectors, including paper, packaging, industrial services, wood products, capital equipment and steel industries. Overall, Atlas Holdings’ affiliated companies operate facilities in more than 40 locations throughout North America and Europe and employ approximately 3,500 people. For additional information, please visit www.atlasholdingsllc.com.
About Capstone Partners
Founded in 2001, Capstone Partners (www.csplp.com) is a leading independent placement agent focused on raising capital for private equity and real estate firms. Its experienced team of over 20 professionals, working from offices in North America, Europe and Asia, is well placed to assist investment firms in the international development of their investor base and complete successful fund raisings in a timely and efficient basis across different cycles.