Private equity group in negotiations to buy all shares in Ahlstrom-Munksjö


A consortium consisting of Ahlström Capital/Ahlstrom Invest, Bain Capital, Viknum AB and Belgrano Inversiones Oy has made a public tender offer for all shares in Ahlstrom-Munksjö the Finnish company listed at the Nasdaq in the Helsinki and Stockholm stock exchange, which was established in 2017 following the merger between Ahlstrom Corporation and Munksjö Oyj. It is active in Europe, North America, South America and Asia. It provides fiber-based products such as decor paper, filters, release liners, abrasive backings, nonwoven fabrics, electro-technical paper, glass fiber materials, food packaging and labelling, tape, medical fiber materials for medical diagnostics. More than 90 percent of Ahlstrom-Munksjö’s products are made from renewable fibers.

Ahlstrom-Munksjö’s shareholders were offered an offer price of 18.10 EUR in cash for each share of Ahlstrom-Munkjsö Oyi. After successfully completing the public tender offer, Ahlstrom-Munksjö’s shares will be removed from listing.

The consortium members, who value the Finnish company’s total equity at approximately 2.1 billion EUR, plan to launch a development programme of the equity value based on a mutually agreed transformation plan for the next five years, which will imply investments, portfolio transformation through strategic M&A transactions, as well as operational and business measures.

The Board of Directors of Ahlstrom-Munksjö has unanimously decided to recommend that the shareholders of Ahlstrom-Munksjö accept the tender offer, as this is considered to be «fair and the best alternative for Ahlstrom-Munksjö’s shareholders». The consortium believes that under private ownership Ahlstrom-Munksjö will be best placed to fulfil its potential from its diversified product portfolio, substantial technical know-how as well as its leading positions in attractive niches.  Nonetheless, the consortium acknowledges that the sector is becoming increasingly competitive and intends to invest significant time, resources and capital to support the company’s strategy for long-term profitable growth, to maintain and further strengthen the company’s existing market positions in its core areas, as well as to invest in new business opportunities.