Ahlstrom-Munksjö has agreed to acquire US-based specialty paper producer Expera Specialty Solutions from Specialty Papers Holding for around $615m.
Image: Ahlstrom-Munksjö has agreed to acquire US-based specialty paper producer Expera Specialty Solutions. Photo: courtesy of Pasi Hiedanpää / Ahlstrom-Munksjö Group.
Based in Kaukauna of Wisconsin, Expera is engaged in the production of specialty paper products for the industrial and technical, food packaging and processing, and pressure-sensitive release liner sectors.
Expera produces specialty papers to wrap and package processed foods and quick service restaurants-prepared food.
The company employs around 1,800 people across four Wisconsin-based manufacturing facilities situated in Rhinelander, Mosinee, Kaukauna and De Pere.
In 2013, KPS Capital Partners, a parent firm of Specialty Papers Holding, formed Expera by combining the specialty paper businesses of Thilmany and Wausau Paper.
The deal will allow Ahlstrom-Munksjö to expand its operations in North America, as well as strengthen its offering of advanced custom-made fiber based materials.
Ahlstrom-Munksjö president and CEO Hans Sohlström said: “Together, our combined, complementary capabilities and expertise will further strengthen our position in fiber-based materials and will enable us to offer even more solutions, value and efficiencies to our customers in North America and around the world.
“Expera contributes to our global platform with their competences, a high quality offering and a team that drives customer value, innovations and sustainability.”
Subject to customary closing conditions and approvals, the deal is expected to complete in the second half of this year.
Once the deal concludes, Expera president and CEO Russ Wanke will join Ahlstrom-Munksjö’s executive management team.
Russ Wanke, along with certain other members of the management team, will invest in Ahlstrom-Munksjö shares in connection with the deal.
Wanke said: “This is an important development for our customers, employees and communities, as we continue to capitalize on the strength of the specialty paper industry worldwide, and provide innovative products with a superior level of service.
Ahlstrom-Munksjö’s product portfolio includes decor paper, filter media, release liners, abrasive backings, nonwovens, electrotechnical paper, glass fiber materials, food packaging and labeling, tape, medical fiber materials and solutions for diagnostics.