New leadership team to build a growing and profitable business, creating
long-term value

EDMUNDSTON, NB, and MADAWASKA, ME, June 10, 2013 /PRNewswire/ – Twin Rivers
Paper Company, a leader in specialty packaging, label and publishing
papers, announces the acquisition of controlling interest in the
company by Atlas Holdings and Blue Wolf Capital Partners, and the
formation of a new board of directors and leadership team who are
turning their attention to building a growing, profitable business and
creating long-term value.

Adam Blumenthal, Managing Partner of Blue Wolf, Tim Fazio, Managing
Partner of Atlas Holdings, and new Twin Rivers’ Chief Executive
Officer, Tim Lowe, join existing board members in setting the strategic
direction for the company. Joining Mr. Lowe on the new executive team
for Twin Rivers Paper Company are Wayne Gosse, Chief Financial Officer,
Jean-Pierre Grenon, Vice President Forestry and Sawmill Operations, and
Adam Levy, Chief Restructuring Officer.

“We are turning our attention to building a growing, profitable
business,” says Tim Lowe. “We are focused on bringing new resources,
operational expertise and a commitment to the future of the business.”

The new management team brings many decades of leadership experience in
the forest products industry. Mr. Lowe and Mr. Gosse previously led
the successful operational and financial turnaround of Northern
Resources Nova Scotia Corporation, an integrated forest products
company located in Pictou, Nova Scotia. Before their work at Northern,
Mr. Lowe held multiple operational positions at Domtar, including
General Manager of the Woodlands, Maine pulp mill; Mr. Gosse held
multiple finance positions at Neenah Paper and Kimberly Clark. Prior to
joining Twin Rivers, Mr. Grenon has had a distinguished career, leading
forestry operations at Domtar, Donohue, and as an independent industry
consultant. Adam has 20 years’ leadership experience in business
transformations, including carve-outs, growth situations and
turnarounds, working throughout the U.S. and Canada. He’s worked with
companies ranging from $100 million to $1 billion in revenue in a wide
range of industries.

Twin Rivers, with facilities in Edmundston and Plaster Rock, New
Brunswick, and Madawaska, Maine, has been a vital economic engine for
the region for over 80 years, producing specialty papers and lumber for
a variety of markets. The new leadership team will build upon the
existing foundation with a view to improving market focus and
increasing profitability. The company is committed to investing capital
to achieve these goals. The key pillars of the strategy include:

• Ensuring exceptional manufacturing capability in lightweight papers and
  expanding specialty markets
• Operating more efficiently and safely
• Expanding sawmill operation and lowering wood costs
• Local management and committed ownership

“We welcome the early support received from employees, union leaders,
community stakeholders and government partners to collaborate on a
successful business strategy,” says Lowe. “We begin the transition
today with a 12- to 18-month plan to ensure Twin Rivers can compete and
thrive long-term in the extremely competitive forest products
industry.”

“Twin Rivers is critical to the survival of the forestry industry in New
Brunswick,” said Economic Development Minister Paul Robichaud. “The
Province of New Brunswick is proud to welcome Atlas Holdings and Blue
Wolf Capital Partners as the new majority ownership group. Together,
Atlas Holdings and Blue Wolf Capital Partners have a depth of
experience in successfully collaborating with stakeholders to
restructure struggling companies into highly sustainable competitive
enterprises.”

“We welcome Blue Wolf and Atlas to our State,” added Maine Governor Paul
LePage. “These investors have a track record of successful change in
forest products companies, and we look forward to working with them as
they implement their strategy.”

“We recognize both governments’ strategic commitment to their respective
value-added wood industries, and we are confident that our plan will
result in a sustainable business that will be well-positioned to thrive
over the long-term, preserving hundreds of well-paying jobs and
bolstering the local communities within which Twin Rivers operates, as
well as protecting the company’s position within the region’s overall
forestry industry – today, and in the future,” said Lowe.

About Twin Rivers Paper Company
Twin Rivers is an integrated specialty paper company that manufactures
packaging, label and publishing products, with mill operations in
Madawaska, Maine, and Edmundston, New Brunswick. Twin Rivers also
operates a lumber sawmill located in Plaster Rock, New Brunswick. For
additional information, please visit: www.twinriverspaper.com.

About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that invests in
companies in which effective management of relationships with complex
constituencies, such as government and labor, can change organizations
and create value. For additional information, please visit www.blue-wolf.com.

About Atlas Holdings
Atlas Holdings is a diversified group of manufacturing, distribution,
service and trading businesses that operates in the building materials,
capital equipment, energy, industrial services, packaging, pulp, paper,
and tissue, steel, and logistics, supply chain management and
distribution segments. With a unique and focused approach, Atlas
Holdings has built companies and entered new industries, centered
around investing in businesses undergoing complex financial and
operational challenges, developing exceptional management teams joined
by a shared set of values and common culture, and deploying the Atlas
operating system. For additional information, please visit www.atlasholdingsllc.com.

SOURCE Twin Rivers Paper Company