December 7, 2020

Willkie represented Atlas in the transaction.

On September 15, LSC Communications, Inc. (OTCQX: LKSD), a commercial print and digital media solutions company, announced it entered into a stock and asset purchase agreement with an affiliate of Atlas Holdings LLC with the support of certain of LSC’s secured creditors (the “Creditor Group”).

Under the terms of the agreement, Atlas will acquire substantially all of LSC’s assets through a combination of cash and a credit bid of obligations under LSC’s secured term loan facility and senior secured notes at the direction of the Creditor Group. Atlas will also assume certain liabilities of the company, including, subject to certain prerequisite conditions being satisfied, obligations related to its qualified pension plan. The transaction is subject to Bankruptcy Court approval and to other customary closing conditions, including regulatory approvals. Over the last two decades, Atlas has developed an intimate knowledge of the printing and paper industries, helping companies solidify their position in core markets while remaining agile in dynamic commercial environments.

With a history of industry experience, innovative solutions and service reliability, LSC Communications is a global leader in print and digital media solutions offering traditional and digital print-related services and office products that serve the needs of publishers, merchandisers and retailers around the world. The company is headquartered in Chicago with approximately 22,000 employees.

Headquartered in Greenwich, Connecticut and founded in 2002, Atlas and its affiliates own and operate 21 platform companies, which employ approximately 22,000 associates at more than 200 facilities worldwide. Atlas operates in sectors such as aluminum processing, automotive, building materials, capital equipment, construction services, food manufacturing and distribution, packaging, power generation, pulp and paper, supply chain management and wood products. Atlas’ companies together generate more than $6 billion in revenues annually.

On December 4, Atlas Holdings announced that it has completed its acquisition of substantially all of the assets of LSC Communications, Inc. The transaction concludes a court-supervised sale process, pursuant to Section 363 of the U.S. Bankruptcy code.

The Willkie team was led by partners Steve Seidman, Mark Cognetti, Laura Acker and Paul Shalhoub, and included associates Anna Martini, Andrew Mordkoff, and Kristen Killian.