Special Situations Venture Partners III (SSVP), a private equity fund advised by Orlando Management AG, is the new majority owner of Nordic Paper.
SSVP acquired 60 percent of the shares of Nordic Paper from shareholders NorgesInvestor, Richard Heiberg Invest AS, JSR Invest AB, and Hartvig Wennberg AS. Current owner Petek GmbH, who has been a shareholder of the company for the last ten years, keeps a share of 40 percent. The change in ownership will not involve any structural changes for Nordic Paper's operations.
CEO Jan Runo, who retires as CEO in connection with the sale, says: “I am both happy and sad to hand over my post to the new CEO Per Bjurbom. Leading Nordic Paper has been a fantastic journey. I am convinced that Per Bjurbom will lift the company to the next level”.
Jan Runo will continue to support Nordic Paper´s development as chairman of the board of directors. Per Bjurbom has worked for over 25 years in the Scandinavian pulp and paper industry, holding senior positions at BillerudKorsnäs and Stora Enso, among others. “I am very glad to be trusted with this big task. I am also excited about the challenge of managing Nordic Paper and bringing in my extensive experience”, he says.
Founded in 2001, Orlando Management AG is the advisor of the SSVP funds on investments in medium-sized companies and corporate subsidiaries. With more than 70 years of investment experience shared amongst the four partners of Orlando Management AG and more than 30 acquisitions over the last 14 years, SSVP is one of the most experienced industrial investors in Europe.
