Ahlstrom-Munksjö Completes $615 Million Acquisition of Expera Specialty Solutions
Oct. 10, 2018 - Expera Specialty Solutions, LLC ("Expera") announced today that Ahlstrom-Munksjö has completed the acquisition of U.S. specialty paper producer Expera for an enterprise value of USD 615 million (EUR 526 million) on a cash and debt free basis. The transformative acquisition will expand Ahlstrom-Munksjö’s presence in North America and further strengthen its offering of advanced custom-made fiber-based materials.
Expera is among the leading specialty paper producers in North America with four paper mills located in the state of Wisconsin in the U.S.
Hans Sohlström, President and CEO of Ahlstrom-Munksjö, comments: "This acquisition is a major step in the execution of our strategy. It will further strengthen our position in fiber based materials and enable us to offer more value to our customers, particularly in North America, but also around the world. We have complementary capabilities and can create further value through joint product development and sharing of best practices. Finally, I would like to welcome Expera’s personnel to Ahlstrom-Munksjö."
Russ Wanke, the former President and CEO of Expera, has been appointed Executive Vice President, North America Specialty Solutions and a member of Ahlstrom-Munksjö’s Executive Management Team.
"Our companies are stronger together. We share a deep papermaking history with customer-focused values," Wanke commented. "As a larger Ahlstrom-Munksjö, the combined resources will allow us to better serve our customers, and in doing so promote continued revenue growth and customer, end-application, and geographic diversification."
The acquisition was announced on July 23, 2018. Customary regulatory approvals have been received for the transaction.
Expera will be consolidated as part of Ahlstrom-Munksjö from October 10, 2018 onwards with more detailed information on the impact of the acquisition to its consolidated accounts in Ahlstrom-Munksjö’s fourth quarter report.