Consortium Makes Tender Offer to Take Ahlstrom-Munksjö Private

"Ahlström Capital has carefully considered various alternatives and came to the conclusion that taking Ahlstrom-Munksjö private with Bain Capital Private Equity as a partner would be the best route for developing the company to its fullest potential." – Ahlström Capital.

Sept. 28, 2020 - A consortium consisting of Ahlström Capital, Bain Capital Private Equity, Viknum and Belgrano Inversiones [on Sept. 24] made a public tender offer for all shares in Ahlstrom-Munksjö. Following a successful tender offer and delisting, all parties would work together to develop AhlstromMunksjö in the private domain.

In a written statement, Ahlström Capital said, "Ahlström Capital has carefully considered various alternatives and came to the conclusion that taking Ahlstrom-Munksjö private with Bain Capital Private Equity as a partner would be the best route for developing the company to its fullest potential. Bain Capital Private Equity would become the majority owner in Ahlstrom-Munksjö with a 55% ownership, alongside Ahlström Capital as further described in the Announcement Release. After the closing of the transaction, Ahlström Capital's ownership (through Ahlstrom Invest BV) in Ahlstrom-Munksjö would be approximately 36% and the ownership of Viknum AB would be approximately 9%.

"The strategy of Ahlström Capital is to actively develop its portfolio businesses. Ahlstrom-Munksjö is the biggest asset in the portfolio with roots in the very beginning of the Ahlström industrial history. Ahlström Capital believes in a great future for Ahlstrom-Munksjö, and sees that this partnership with Bain Capital Private Equity is the best way to ensure that the company can develop to its fullest potential in a changing competitive environment."

Commenting on the tender offer, Lasse Heinonen, the President and CEO of Ahlström Capital, said, "At Ahlström Capital we are pleased with how Ahlstrom-Munksjö has transformed over its 170 years of history to become a global leader in specialty fiber-based materials. However, the dynamics and clock speed of the industry are changing. This means that unlocking the full potential of the company will require active and ambitious measures, that we believe will be easier in a private setting.

"In addition, partnering with Bain Capital Private Equity adds valuable resources, expertise and networks for accelerating development and will, together with the company´s management and employees, take Ahlstrom-Munksjö to the next level."