16 September 2020
LSC Communications Bought By Private Equity Atlas Holdings
North Americas 4th largest printer and largest book printer.
North Americas 4th largest printer and largest book printer.
LSC entered into a  agreement with private equity firm Atlas Holdings, with the support of certain of LSC’s secured creditors . LSC is North Americas largest book printer and also is a large magazine and catalogue printer. Atlas Holdings will acquire most of LSC's assets, including its operations in Canada and Mexico, through a combination of cash and a credit bid of obligations under the company’s secured term loan facility and senior secured notes  of the secured creditor group.
Buys up companies in distress
Buys up companies in distress
The transaction, which will take the publicly-held LSC private, it is expected to close in the last quarter of 2020. LSC Communications was spun off from RR Donnelly in 2016 with about  22,000 employees. Atlas Holdings is no stranger to the printing, packaging, and paper industries. It's holdings  include Finch Paper,  Twin Rivers Paper, Marcal, a paper towel and tissue products manufacturer; and Millar Western, an Alberta-based pulp producer.  Atlas targets underperforming, bankruptcy purchases, out-of-court restructurings, and reorganizations.
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