Ahlstrom to divest pre-impregnated décor paper and abrasive businesses
October 18, 2013
Ahlstrom has signed an agreement to divest its pre-impregnated décor papers and abrasive paper backings businesses to Perusa, a German-based private equity group. At completion of the transaction, the ownership base of the divested businesses will be broadened to also include the current management of the sold business. The enterprise value of the transaction is approximately €20 million. Under the agreement, Ahlstrom's pre-impregnated décor paper and abrasive paper backings businesses in Osnabrück, Germany, will be transferred to an entity held by Perusa Partners Fund 2, LP, a private equity firm advised by Munich-based Perusa GmbH. The parties have also formed a joint venture to operate the power plant and the water facilities for the site. Ahlstrom will book a write-down of approximately €6 million in the third quarter of 2013 as a result of the agreement. Ahlstrom continues to manufacture wallpaper, hybrid wallcover and poster paper materials in Osnabrück and produces release papers as a contract manufacturer to Munksjö Oyj.