Palladium Equity Partners Announces Investment in ATC Panels
NEW YORK, Nov. 16 /PRNewswire/ -- Palladium Equity Partners, LLC today announced that it has made a significant minority investment in Aconcagua Holdings, owner of ATC Panels, a fast-growing producer of particleboard, low density fiberboard, medium density fiberboard, high density fiberboard and thermally fused melamine panels. ATC Panels employs approximately 600 individuals throughout North America and is headquartered in Moncure, NC. David Perez, Managing Director of Palladium, said, "We are excited to partner with ATC Panels and its parent company Aconcagua Holdings, a proven industry leader which is bringing a high level of quality, innovation and service to the North American market. Their business strategy of modernizing mills to integrate them with value-added operations is unique and compelling," he added. "We are pleased to have established a partnership with such a reputable firm as Palladium Equity Partners," said Juan Obach, chairman of ATC Panels. "Their support reinforces our position as a preeminent player in the composite panels market and their involvement will allow us to continue to grow both organically and through select acquisitions in pursuit of our goal to be the premier supplier of value-added products." This is the third investment of Palladium Fund III, which closed in March 2006 with $520 million of committed capital and the second investment by Palladium to be announced this month. ATC Panels ATC Panels is owned by Aconcagua Holdings, named after the highest mountain in the western hemisphere, located in the Andes Mountains in Chile and Argentina. Aconcagua Holdings was formed in May 2004 and is owned by several Chilean investors, who until 2002 controlled the largest wood panel manufacturer in Latin America. With five acquisitions in the last year, the company is aggressively seeking acquisition opportunities in the North American wood panel industry. For more information about ATC Panels and its products, visit http://www.atcpanels.com. Palladium Equity Partners, LLC Palladium Equity Partners, LLC, based in New York, is an investment firm focusing on middle market companies in sectors including financial and business services, healthcare, retail, food, manufacturing and media. Palladium has a particular focus on companies well-positioned to capitalize on the fast-growing U.S. Hispanic market. The principals have invested more than $1 billion of equity in over 30 portfolio companies during the last two decades. Formed in 1997, Palladium currently has committed equity capital in excess of $750 million. For more information about Palladium Equity Partners, visit http://www.palladiumequity.com Contacts: ATC Panels Palladium Equity Partners Ben Arens / Allison Kurtz David Lilly / Laura Walters L.C. Williams & Associates Kekst 312/565-3900 or 800/837-7123 212-521-4800
SOURCE Palladium Equity Partners, LLC
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