Tenex Capital Management Agrees To Acquire US Greenfiber LLC

New York, NY – December 16, 2013 – Tenex Capital Management (“Tenex”), the New York based private equity firm focused on middle market investments, announced it has signed a definitive agreement to acquire US GreenFiber, LLC (“GreenFiber”) from its joint venture owners, Louisiana-Pacific Corporation (“LP”) (NYSE: LPX) and Casella Waste Systems, Inc. (“Casella”) (Nasdaq: CWST).

GreenFiber has 7 manufacturing plants located throughout the United States, and sells its products to building supply retailers, manufactured housing builders and insulation contractors in the U.S. and Canada. GreenFiber products are also sold through a national sales force to residential and commercial contractors as well as to the do-it-yourself and contractor customer.

Michael Green, CEO of Tenex Capital Management, stated, “In GreenFiber, we have acquired a market leading company in the insulation industry that enjoys a strong reputation for superior quality and a high level of customer service with contractors, builders, retailers and homeowners. We look forward to supporting the company and its management team in executing their growth plan.”

About Tenex Capital Management

Tenex Capital Management, LLC (“Tenex”) is a private equity firm with $452M of committed capital that makes control investments in middle market companies.

Tenex utilizes an in-house team of hybrid professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation within our portfolio companies.

Tenex is based in New York City. For additional information, please visit www.tenexcm.com.

About US GreenFiber

Established in 2000 and headquartered in Charlotte, N.C., GreenFiber is the largest manufacturer of cellulose insulation, fire and sound products, all made with a minimum of 85% recycled paper fibers. With 7 manufacturing plants located throughout the United States, GreenFiber products are sold to building supply retailers, manufactured housing builders and insulation contractors in the U.S. and Canada. GreenFiber products are also sold through a national sales force to residential and commercial contractors as well as to the do-it-yourself and contractor customer. For more information, please visit: www.GreenFiber.com