Quantum Capital Partners announced that Timber QCP GmbH closed the acquisition of a thermopaper mill in Flensburg, Germany, from Mitsubishi HiTec Paper Europe GmbH, a subsidiary of Japan-based Mitsubishi Paper Mills Limited. The Flensburg mill operates as a standalone business under the new company name Fjord Paper Flensburg GmbH. The Flensburg mill acquisition marks the third paper industry investment with QCP-managed funds. Together with the acquisitions of a board mill in Barcelona from Stora Enso in 2015 and the graphical and packaging paper mill Papresa from KKR in 2020, QCP has created a network and center of expertise in the paper industry.
The Flensburg operation consists of one paper machine and two coating lines with a total annual capacity of 35,000 tons. It produces coated specialty papers with focus on thermal and barrier papers and sells globally to a broad customer base. With a company history spanning more than 300 years, the Flensburg mill is known today for its strong technological know-how and an innovation-driven and loyal workforce. Its paper is valued for its unique product specifications and is used for various applications such as event tickets, lotteries, labels, food tags, cash receipts, food packaging and more. The workforce of more than 200 employees will be fully retained under the new ownership. Christian Holland-Moritz, a long-standing portfolio manager for QCP, will serve together with the incumbent plant manager Mr. Joachim Küster as co-Managing Directors of Fjord Paper Flensburg GmbH.
«This mill and its long-standing history are an important part of Flensburg» said Holland-Moritz commenting on the transaction. We see great potential in the paper mill and its products, which are used by people worldwide on a daily basis. Together with the employees and the ambition to find sustainable solutions, we are moving towards the next chapter. Flensburg’s paper story will carry on». Mitsubishi HiTec Paper Europe is a manufacturer of coated specialty paper with mills in Bielefeld and Flensburg. With the completed transaction, Mitsubishi HiTec Paper Europe is now able to focus on its business in Bielefeld and continue to serve its customers all over the world with different types of thermal paper, inkjet paper, carbonless paper and more.