Spa Holdings 3 Oy announces a voluntary recommended public cash tender offer for all the shares in Ahlstrom-Munksjö Oyj.
According to Ahlstrom-Munksjö, the transaction will enable the Company to reach its full potential in a changing and competitive environment, and provide significant investment and support for the transformation of the Company whilst maintaining its heritage and roots.
Commenting on the Tender Offer, Lasse Heinonen, President and CEO of Ahlström Capital Oy:
“At Ahlström Capital Oy we are pleased with how Ahlstrom-Munksjö has transformed over its 170 years of history to become a global leader in specialty fiber-based materials. However, the dynamics and clock speed of the industry are changing. This means that unlocking the full potential of the Company will require active and ambitious measures, that we believe will be easier in a private setting. In addition, partnering with Bain Capital adds valuable resources, expertise and networks for accelerating development and will, together with the Company’s management and employees, take Ahlstrom-Munksjö to the next level.”
Commenting on the Tender Offer, Ivano Sessa, Managing Director and Co-Head of European Industrials, Bain Capital:
“We have a long track record of successful partnerships with family-owned businesses where those families have a long-term approach and commitment to the companies they own. Our expertise in growing and transforming industrial companies has been proven over many years and we have demonstrated this as well in the specialty fiber-based materials industry through our recent investments in the sector. We believe passionately in the long-term growth potential of the industry and the ability of specialty fiber-based materials to be on the right side of important sustainability trends. Ahlstrom-Munksjö operates on a global scale, which will enable our international networks, industry expertise and global resources to help position the Company at the forefront of the market.”