GREENWICH, Conn. (News release) -- Atlas Holdings announced that it has completed its acquisition of substantially all of the assets of LSC Communications, Inc., a North American leader in print and digital media solutions. The transaction concludes a court-supervised sale process, pursuant to Section 363 of the U.S. Bankruptcy code. LSC is the largest producer of books in the United States and a leading manufacturer and distributor of magazines, catalogs and office products.
Formed in 2016 as a spinoff from R.R. Donnelley (NYSE: RRD), LSC is a North American printing and commercial solutions provider, servicing publishers, merchandisers and retailers. With more than 14,000 dedicated associates across more than 50 facilities, the company is organized around four business segments, Magazine, Catalog & Logistics, Books, TOPS Products and its Mexico Print operations, which collectively service the traditional and digital print, print-related services and office products markets. LSC begins its new chapter with a strong balance sheet, an optimized manufacturing footprint and a more competitive cost structure. As a leaner and more efficient organization, LSC is positioned to continue investing in innovation and sustainable growth with the support of Atlas' financial strength and sector knowledge.
"Atlas is the ideal fit as LSC's new partner. Our roots are in paper - the investment that launched Atlas more than two decades ago was the purchase of a single paper mill in Indiana. Since then, our team has developed deep sector expertise in printing, paper and adjacent industries such as packaging and paper receipts and labels. This knowledge, coupled with our proven ability to transform businesses facing challenging market environments, positions LSC for a bright future," said Timothy J. Fazio, Co-Founder and Managing Partner of Atlas Holdings.
"We're excited to officially welcome LSC's dedicated associates to the Atlas Family and join them in writing the next chapter in the story of a great printing company," said Neil Mahajan, Partner of Atlas Holdings. "As long-term partners, we work with our businesses to win in their core markets - while leveraging our asset base to identify and seize new growth opportunities. That is exactly what we will do with the team at LSC."