Atlas Holdings LLC Announces Acquisition of Pangborn Corporation

Atlas Holdings LLC today announced that it has completed the acquisition of Pangborn Corporation (“Pangborn”), a leading global manufacturer of surface preparation capital equipment. Atlas Holdings purchased Pangborn through Capital Equipment Resources LLC, a new platform of Atlas Holdings formed to acquire and grow businesses in the capital equipment sector.

Pangborn Corporation designs, manufactures, markets and services shot blast machines, dust collectors and related products for the primary metal and metalworking industries. Since its inception in 1904, Pangborn has led the way in all aspects of the surface preparation industry. From the design of equipment, to the services and products required to install, maintain and operate blast machines, the Company provides a wide array of engineered products and tailored services. Pangborn’s world-wide operations are headquartered in Hagerstown, MD. Under the new ownership of Capital Equipment Resources LLC, Pangborn will be better positioned to continuously serve its clientele and large installed base of machines.

Randy Hudson, President and CEO of Pangborn, commented that “Management is certain that under Atlas Holdings and Capital Equipment Resources ownership, Pangborn will further strengthen its North American market position and re-establish itself as the preferred shot blast and air blast equipment and services provider in the global marketplace.”

Capital Equipment Resources LLC is an affiliate of Atlas Holdings LLC. Atlas Holdings is a private holding company with interests in the wood products, specialty steel, paper and packaging, industrial services and capital equipment sectors. Atlas Holdings combines capital, industrial experience and transactional expertise to grow businesses with a long-term perspective. Over the past twenty five years, the principals of Atlas Holdings have undertaken more than 300 transactions and, in partnership with capable management teams, have built more than 40 companies in a variety of industries, including basic manufacturing, industrial distribution and services, financial services and media. For more information on Atlas Holdings, please refer to its website www.atlasholdingsllc.com.