Pixelle Acquires Two Specialty Papers Businesses

With the acquisition of Appvion's carbonless rolls and security papers business, Pixelle will manufacture carbonless roll products for former Appvion customers at its Chillicothe, Ohio specialty paper mill.

April 5, 2021 - Pixelle Specialty Solutions today announced it has completed two strategic investments that will further strengthen its portfolio and enhance service to new and existing customers:

• On March 31, Pixelle acquired the specialty paper business Rollsource from Veritiv Corporation.
• On April 5, Pixelle acquired the carbonless rolls and security papers business from Appvion Operations Inc.

Financial terms of the deals were not disclosed.

The acquisition of Rollsource includes the book of business primarily serving the forms printer market, and includes a converting facility in Pittsburg, Kansas. Pixelle will retain key Rollsource employees in order to ensure continuity in operations, sales and customer service.

The acquisition of Appvion's carbonless rolls and security papers business will enable Pixelle to serve new customers with Pixelle's portfolio of ExcelOne® and Trans/Rite® carbonless papers and broad line of Defensa® security products. No production assets are included in the transaction. Pixelle will manufacture carbonless roll products for former Appvion customers at its Chillicothe, Ohio specialty paper mill, building on decades of experience producing carbonless products.

"The addition of carbonless rolls, security and related products along with a skilled group of professionals at Rollsource enables Pixelle to continue growing its specialty portfolio," said Tim Hess, Chief Executive Officer of Pixelle. "These investments reinforce Pixelle's commitment to provide best-in-class products and service to our customers."

Pixelle Specialty Solutions LLC was formed in 2018 by Lindsay Goldberg, a private investment firm. Pixelle has built an industry-leading four-mill specialty paper platform with mills in Chillicothe, Ohio, Jay, Maine, Spring Grove, Pennsylvania and Stevens Point, Wisconsin. Collectively the mills operate 11 paper machines and produce more than one million tons of paper annually. To learn more, visit: www.pixelle.com.

SOURCE: Pixelle Specialty Solutions