Munksjo, a company owned by Swedish private equity firm EQT‘s Fund No. III, said that it will pay 95 million euro ($127.5 million) for the specialty paper buisiness of ArjoWiggins, Reuters reported. ArjoWiggins is owned by the French group Sequanna.
(Reuters) – Swedish private equity-owned firm Munksjo is buying the specialty paper unit of ArjoWiggins, owned by French group Sequana , in a 95 million euro ($127.5 million) deal.
Munksjo, owned by private equity firm EQT’s Fund No. III, said on Tuesday the acquisition of the decor and abrasive paper units was a natural step in its strategy to grow within specialty papers ahead of a planned listing next year.
The acquisition includes production facilities in Arches, France, and Dettingen, Germany, and would boost annual net sales at the group to about 600 million euros while the number of employees would rise to about 1,750, Munkso said.
“The acquisition means that Munksjo becomes a world leading specialty paper company with a nearly doubled turnover within decor paper,” the company said, adding annual sales at the units being acquired amounted to about 220 million euros.
(Editing by Dan Lalor) ($1 = 0.7449 euro)