Bain-led consortium makes €2.1bn offer for Ahlstrom-Munksjö

The consortium has offered €18.10 per share, 24% higher than the €14.56 closing price on 23 September.

The company's board of directors has decided to recommend that the shareholders of Ahlstrom-Munksjö accept the take-private offer. 

The consortium said in a statement that it believes Ahlstrom-Munksjö will be best placed to fulfil its potential under private ownership. 

The tender offer will be published around 20 October 2020, with the shareholders having until around 4 January 2021 to accept or reject it. 

Founded in 1851 and based in Helsinki, Ahlstrom-Munksjö is a provider of fibre-based products such as decor paper, filters, non-woven fabrics, glass fibre materials, food packaging and materials for medical diagnostics. The company generates net revenues of €3bn and employs 8,000 people. The company is listed on Nasdaq Helsinki and Stockholm. 

The consortium has appointed PJT Partners and Goldman Sachs International as financial advisers, Nordea Bank as financial adviser and arranger outside of the US, Pöyry Capital as financial adviser and Hannes Snellman Attorneys, Roschier and Kirkland & Ellis International as legal advisers for the proposed deal. 

Meanwhile, UBS Europe is acting as a financial adviser and White & Case and Cleary Gottlieb Steen & Hamilton as legal advisers to Ahlstrom-Munksjö.

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• Topics
• Buyouts
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• Bain Capital
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