Ahlstrom-Munksjö has completed the acquisition of US-based specialty paper producer Expera Specialty Solutions for around $615m.
The acquired business will enable Ahlstrom-Munksjö to expand its operations in North America and further offer advanced custom-made fiber-based materials to its customers.
Expera manufactures specialty paper products for the industrial and technical, food packaging and processing, and pressure-sensitive release liner sectors.
Expera operates four paper mills, of which two have integrated pulp production, in Wisconsin.
The acquired operations generated net sales of $721m and had comparable EBITDA of $71m in 2017.
The acquired operations are said to form Ahlstrom-Munksjö’s fifth business area and financial reporting segment called North America Specialty Solutions.
Ahlstrom-Munksjö president and CEO Hans Sohlström said: “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.”
Expera’s specialty papers can be used for wrapping and packaging processed foods and quick service restaurants-prepared food.
The firm produces a range of release liners for the specialty label market. Its silicone coated products comprised of caliper controlled and densified liners to meet required die cutting requirements.
Additionally, the company produces DualBak liners for tapes and sealants and develops application-specific liners for industrial, building and construction, automotive, transportation and specialty tape segments.
In 2013, KPS Capital Partners, a parent firm of Specialty Papers Holding, formed Expera by combining the specialty paper businesses of Thilmany and Wausau Paper.
Expera former president and CEO Russ Wanke has been selected as executive vice president for North America Specialty Solutions and member of Ahlstrom-Munksjö’s executive management team.
Ahlstrom-Munksjö produces various products, including decor paper, filter media, release liners, abrasive backings, nonwovens, electrotechnical paper, glass fiber materials, food packaging and labeling, tape, medical fiber materials and solutions for diagnostics.