Ahlström Capital BV and Nidoco AB’s Investment in The Decor Business Area of Ahlstrom-Munksjö

Hannes Snellman advised the buying consortium comprising Ahlström Capital BV and Nidoco AB on the deal. White & Case advised Ahlstrom-Munksjö.

The buying consortium comprising Ahlström Capital BV and Nidoco AB, announced the investment in the majority share of Ahlstrom-Munksjö’s Decor Solutions business area.

The Decor Solutions business area is one of Ahlstrom-Munksjö‘s five reporting segments offering the broadest assortment of high-quality decor papers in its industry. The production of the Decor Solutions business takes place at six plants: Unterkochen and Dettingen in Germany, Tolosa in Spain, Arches in France, Caieiras in Brazil, and Xingtai in China.

Including Xingtai, which was acquired in January 2022, the annual net sales of the Decor Solutions business is approximately EUR 500 million, and it has a production capacity of around 250,000 tons. Currently the combined businesses employ 1,200 people. The planned reorganisation is expected to be completed by the end of the third quarter of 2022.

Ahlström Capital BV is a wholly-owned subsidiary of Ahlström Capital Oy, a family-owned investment company focusing on industrial companies, real estate, and forestry.

Nidoco AB is a Swedish investment company whose strategy is to create long-term value through active ownership of public and private companies. Nidoco is currently a leading shareholder of three listed companies with head offices in the Nordic region, and it has direct and indirect investments in more than 300 unlisted companies globally. Nidoco is an independent part of the Virala Group.

The Hannes Snellman team comprised Johan Aalto (Picture), Johanna Wärnberg, and Mikael Lustig (M&A), Panu Siitonen and Anniina Jaatinen (IP & Tech), Antti Nyberg, Matias Moberg, and Pauliina Sutinen (Finance), and Peter Forsberg and Lars Lundgren (Competition).

The White & Case team which advised on the transaction was led by partner Janko Lindros (Helsinki) and included partners Matthias Kiesewetter (Hamburg), Jost Kotthoff (Frankfurt), Tilman Kuhn (Düsseldorf & Brussels) and Jean Paszkudzki (Paris), local partner Moritz Müller-Buttmann (Hamburg) and associates Olga Lehtonen, Samuel Salmivirta (both Helsinki), Mathias Bogusch (Frankfurt), Nico Frehse (Hamburg) and Maud Fillon (Paris).

Involved fees earner: Johan Aalto – Hannes Snellman; Peter Forsberg – Hannes Snellman; Anniina Jaatinen – Hannes Snellman; Lars Lundgren – Hannes Snellman; Mikael Lustig – Hannes Snellman; Matias Moberg – Hannes Snellman; Antti Nyberg – Hannes Snellman; Panu Siitonen – Hannes Snellman; Pauliina Sutinen – Hannes Snellman; Johanna Wärnberg – Hannes Snellman; Mathias Bogusch – White & Case; Maud Fillon – White & Case; Nico Frehse – White & Case; Matthias Kiesewetter – White & Case; Jost Kotthoff – White & Case; Tilman Kuhn – White & Case; Olga Lehtonen – White & Case; Janko Lindros – White & Case; Moritz Müller-Buttmann – White & Case; Jean Paszkudzki – White & Case; Samuel Salmivirta – White & Case;

Law Firms: Hannes Snellman; White & Case;

Clients: Ahlström Capital; Ahlstrom-Munksjö Oyj; Nidoco AB;

Federica Tiefenthaler

Author: Federica Tiefenthaler