Industrial-focused private equity firm (complex situations and carve-outs)
Atlas Holdings
- HeadquartersGreenwich, CT S7
- Founded2002 S3
- Websiteatlasholdingsllc.com
- Last verifiedOctober 20, 2026
At a glance
| Assets under management | $16B (as of May 2025) S7 |
|---|---|
| Latest fund | Atlas Capital Resources V, $6.5B (May 2025) S7 |
| Deal types | Platform, Add-on S3 |
| Sectors | Industrial & Manufacturing, Distribution, Construction Services, Consumer & Food |
What Atlas Holdings buys
Atlas Holdings is a Greenwich, Connecticut firm, started in 2002, that buys and runs manufacturing and distribution businesses. Its 30 companies make or move paper and packaging, steel, auto parts, batteries, building products and food, and also include construction and power generation businesses, with about 75,000 employees in total. Atlas takes control and looks for businesses under some kind of strain: corporate carve-outs, bankruptcy sales, restructurings, take-privates of public companies, or businesses with labor, legal or environmental problems.
Atlas closed its fifth fund, Atlas Capital Resources V, at its $6.45 billion hard cap in May 2025, when it managed more than $16 billion. Recent platform deals are large, such as The ODP Corporation for about $1 billion and the North American steel business of EVRAZ. The firm publishes no revenue or EBITDA range. Its site does invite owners who want to sell, but a smaller company is most likely to fit as an add-on to an existing Atlas business, the way C&D Trojan joined Stryten Energy in 2026.
Recent deals
Announced in the 24 months before October 20, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Oct 2026 | C&D Technologies and Trojan BatteryBattery makers combined with Stryten Energy to form a larger US-based battery platform | Add-on | Industrial & Manufacturing | Source |
| Dec 2025 | The ODP CorporationTake-private of the Office Depot and OfficeMax parent, valued at about $1 billion | Platform | Distribution | Source |
| Aug 2025 | Bridgewell Building Materials WestDivision sold to a new company formed by its own leaders, finishing Bridgewell's exit from building materials | Exit | Distribution | Source |
| Aug 2025 | Foster Farms Farmerville, Louisiana complexPoultry plants, feed mill and hatchery sold by Foster Farms to Case Farms | Exit | Consumer & Food | Source |
| Jul 2025 | EVRAZ North America (now Orion Steel Companies)Steelmaker carve-out with mills in Colorado and Oregon, renamed Orion Steel | Platform | Industrial & Manufacturing | Source |
| May 2025 | Atlas Capital Resources VFifth flagship fund closed in one round at its $6.45 billion hard cap | Fund close | Source | |
| Apr 2025 | REHAU Automotive and SRG Global (now RESRG Automotive)Two auto supplier carve-outs combined; the REHAU Group kept a minority stake | Platform | Industrial & Manufacturing | Source |
| Apr 2025 | Bovis (Lendlease UK construction business)UK construction contractor bought from Lendlease and returned to the Bovis name | Platform | Construction Services | Source |
| Jan 2025 | Saxco InternationalAgreement to sell the packaging distributor to Kelso-backed Novvia Group after five years | Exit | Distribution | Source |
| Nov 2024 | IconexReceipt paper business sold to Domtar, completing the exit after the labels unit went to M2S Group | Exit | Industrial & Manufacturing | Source |
Portfolio by sector
From the firm's portfolio page S5.
Automotive Components
- Carlex
- Edison Companies (Stryten Energy, Element Resources, Motrex)
- Motus
- RESRG Automotive
- US Farathane
Construction
- Bovis
- Permasteelisa Group
Construction Services
- InfraServices
Construction; Metal Processing, Fabrication & Engineered Products
- EQI
- Veritas Steel
Distribution; Packaging; Pulp, Paper & Printing
- LSC Communications
Distribution; Wood Products & Building Materials
- Bridgewell
Food Processing
- Flagstone Foods
- Foster Farms
Metal Processing, Fabrication & Engineered Products
- Orion Steel Companies
- Pantheon Electric (formerly IWG)
- Tecumseh
Packaging
- ASG
Packaging; Pulp, Paper & Printing
- Crown Paper Group
Power Generation
- ACR II Granite Shore Power Holdings
- Greenidge
- Pelican Power
Pulp, Paper & Printing
- De La Rue
- Finch Paper
- Marcal Paper
- Millar Western
- The ODP Group
- Thunder Bay Pulp and Paper
- Twin Rivers
Wood Products & Building Materials
- Winston Plywood & Veneer
Greymont’s take
How Atlas Holdings fits a seller
Atlas suits owners of industrial businesses that a typical buyer would pass on: a plant that is losing money, a division a parent company wants to shed, a company with union, pension or environmental issues, or one coming out of a restructuring. Atlas says it can size up a business fast and close with certainty, and it counts more than 300 completed transactions. A sale to Atlas usually means it takes full control and brings in its own operating partners to carry out an improvement plan.
For a healthy, founder-owned company, Atlas is a less common buyer, since its recent deals are mostly large carve-outs and public companies. Owners should ask whether their business would stand alone or be folded into an existing Atlas company such as Stryten Energy or Bridgewell, and how long Atlas expects to hold it. Its record points to long holds: nearly a decade with Iconex and five years with Saxco.
Questions owners ask
What size companies does Atlas Holdings buy?
Atlas does not publish a revenue or EBITDA range. Its recent platform deals are large, including The ODP Corporation at about $1 billion and EVRAZ North America, and its fifth fund closed at $6.45 billion in May 2025.
Does Atlas buy struggling businesses?
Yes, that is the core of its strategy. Atlas focuses on control investments in companies under financial or operational stress, and its deal history includes bankruptcy purchases, out-of-court restructurings, corporate spin-offs and businesses with labor, legal or environmental issues.
Which industries does Atlas invest in?
Its own list covers automotive products, building materials, capital equipment, chemicals, construction, energy, equipment fabrication, food and beverage, industrial distribution, metals, packaging and paper. Current companies include Foster Farms, Orion Steel, Stryten Energy, Twin Rivers and The ODP Group.
How long does Atlas keep its companies?
Atlas presents itself as a long-term owner. It held Iconex for nearly ten years before selling the last part to Domtar in November 2024, and owned Saxco for about five years before agreeing to sell it to Novvia Group in January 2025.
Sources
- S1Atlas Holdings home page Accessed October 20, 2026
- S2Atlas Holdings: About Us Accessed October 20, 2026
- S3Atlas Holdings: Our History Accessed October 20, 2026
- S4Atlas Holdings: Investment Strategy Accessed October 20, 2026
- S5Atlas Holdings: Our Companies (sector and location filters) Accessed October 20, 2026
- S6Atlas Holdings: Partnering With Us Accessed October 20, 2026
- S7Atlas closes fifth fund at $6.45 billion hard cap (May 5, 2025) Accessed October 20, 2026
- S8Stryten Energy completes acquisition of C&D Trojan (October 6, 2026) Accessed October 20, 2026
- S9Atlas Holdings media page (dated news list) Accessed October 20, 2026
- S10Atlas announces exit from Iconex (November 4, 2024) Accessed October 20, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Atlas Holdings. Figures are as reported on the dates shown and may have changed. Request a correction