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TRANSACTION February 2021

Bain Capital’s offer for Ahlstrom Munksjö

Completion of Bain Capital’s tender offer for Ahlstrom Munksjö

  • Bain Capital, together with Ahlström Capital as well as Viknum and Belgrano Inversiones, announced a public tender offer for the Company in September 2020
  • In February 2021, having received 90.6% acceptances, the tender offer was successfully completed
  • Headquartered in Helsinki, Ahlstrom-Munksjö produces a vast range of specialty paper products for various end markets. Examples include compostable food and beverage processing and packaging materials, liquid and air filtration media, diagnostic materials and protective medical fabrics
  • The company operates 45 plants in 14 countries and employs 7,800 people. As of 31st December 2020, the Company  recorded sales of €2,683m and posted an EBITDA of €334m
  • During 2020 Pöyry Capital prepared a comprehensive M&A strategy for 16 individual business units, resulting in the presentation of over 100 M&A targets as well as a detailed review of non-core divisions and respective potential buyers
  • Pöyry Capital also performed a detailed valuation of Ahlstrom-Munksjö, including a sum-of-the-parts analysis based on the 16 business divisions of the company