PUTNEY -- Soundview Paper Company of Elmwood Park, N.J., announced Wednesday that it had purchased Putney Paper from APC Paper Holdings.
"The acquisition happened on December 31 and it happened with a great amount of speed," said Noel Huebner, director of marketing for alternate channels for Soundview Paper. "It wasn't long in the making, just a couple of months."
Huebner said she could not disclose if APC put Putney Paper on the market or if Soundview, which also recently bought Marcal, went looking for a new asset to purchase.
Soundview itself is owned by Atlas Holdings, which is described as a private equity firm "specializing in bankruptcy purchases, restructuring, turnarounds, leveraged ESOP transactions and difficult transactions with labor issues, environmental challenges or complex operating configurations."
Atlas Holdings' other assets include AGI-Shorewood, Bridgewell Resources, Finch Paper, Pangborn Group, Redbuilt and Susquehanna Drilling Partnerships
Huebner said at this time there are no plans to make changes at the Putney facility.
"Things will remain very much the same as they are today," she said. "The goal is to maintain both companies' presence and growth in the commercial market."
Putney Paper and Soundview will experience a "symbiotic relationship" due to their products and their use of recycled materials, said Huebner.
"The management team at Soundview is excited about the acquisition," she said. "It brings commercial toweling to Soundview's commercial products offering.
John McLean, senior vice president of sales and marketing for Soundview Paper Company, said adding Putney Paper to its facilities gives Soundview a broader range of commercial towel manufacturing capability into its finished paper products offering of tissue, towel and napkin products to retailers, distributors and other customers.
"Putney is recognized for its high quality commercial towel products and has a heritage of making tissue from 100-percent recycled paper, fitting perfectly into the family of Soundview and Marcal brands," he stated in a press release announcing the acquisition. "With the addition of Putney, we now offer our customers an even broader product array of towel and tissue products in the Away-from-Home segment."
Atlas Holdings owns and operates more than 70 facilities with nearly 9,000 employees worldwide. Its businesses are engaged in a broad spectrum of industries, including pulp and paper manufacturing, food and agriculture, wood products and building materials, packaging, capital equipment, and industrial and business services.
For more information about Soundview Paper Company LLC and its commercial towel and tissue products, including Putney products, please visit the company's website at www.soundviewpaper.com.
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