Garmark, LBC Credit Partners Provide Facilities to Forest Resources
GarMark Partners and LBC Credit Partners, providers of financing solutions to middle-market companies, announced they were co-lead arrangers and co-documentation agents for $48 million in credit facilities to Forest Resources, LLC, an Atlas Holdings company and manufacturer of recycled paper and packaging products. The credit facilities consisted of a $38 million second lien term loan and $10 million in preferred equity. Proceeds were used to refinance existing debt and consolidate the company’s Canadian and U.S. debt under one facility.
“It was a pleasure working with both LBC and GarMark,” said Tim Fazio, managing partner at Atlas Holdings. “This refinancing will help support Forest Resources’ growth by optimizing its debt and equity capital structure.”
“We are very happy to play a part in the continued growth and success of Forest Resources,” added Homyar M. Choksi, managing director with LBC. “This also goes a long way in furthering the strong relationship we have with Atlas.”
“GarMark is pleased to be investing again with Atlas, a firm with which we’ve had a long relationship,” said Steven C. Pickhardt, managing principal with GarMark. “This was also an opportunity to support a top-notch management team at Forest Resources.”
LBC Credit Partners is a provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments.
GarMark Partners is a provider of mezzanine debt and structured equity capital for a range of sponsored and unsponsored transactions involving middle market companies.