Ahlstrom has today signed an agreement to acquire the Sweden-based Munktell Filter AB as a strategic step to grow the advanced filtration business particularly in life science and laboratory applications.
Under the agreement, Ahlstrom will acquire 100% of the shares in Munktell Filter AB, as well as its holdings in Munktell & Filtrak GmbH, Filtres Fioroni SA and Munktell Inc. The enterprise value of the transaction is approximately €20 million, including the planned subsequent buyouts of minority interests. Through the transaction, Ahlstrom will become a global leader in life science and laboratory media filtration.
According to Jan Lång, president and CEO, the acquisition reinforces Ahlstrom’s leadership in filtration material markets worldwide. “There is a clear strategic fit with Munktell and Ahlstrom, and the transaction allows us to strengthen our product portfolio in advanced filtration materials. This move is a prime example of our focus on new type of high performance materials business with attractive future growth potential.”
“When we combine Munktell’s strong position in the European advanced filtration market with our solid presence in North America, we will gain access to new markets geographically. Driven by global changes in demographics, life science and laboratory filtration are lucrative growth areas for us,“ adds Tommi Björnman, Executive Vice President, Filtration.
Munktell is based in Falun, Sweden and it has production sites in Germany and Sweden, a joint venture in France, as well as a sales office in the U.S. The company’s net sales amounted to approximately €15 million and operating profit margin was roughly 15% in 2011. It employs some 100 people. Munktell produces filtration materials mainly for life science and laboratory applications. End use examples include newborn screening, laboratory media filtration, filter materials for pollution control, as well as testing materials used by medical, sugar and beverage industries
Ahlstrom buys Swedish filter company