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 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
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