Madison Dearborn sells Finland-based Powerflute for €365m

The transaction comes only a year after Madison Dearborn Partners acquired a majority stake in Powerflute via its newly created holding Nordic Packaging and Container Holdings (NPAC).

Pending regulatory approval, the deal is expected to complete in the first half of 2018.

Previous funding
In September 2016, Madison Dearborn, via NPAC, acquired a majority stake in the Finnish manufacturer of packaging board. Terms of the deal amounted to £268m.

The company has been trading on the AIM segment of the London Stock Exchange since December 2014.

Company
Established in 2004 and headquartered in Kuopio, Powerflute is a manufacturer of corrugated cardboard. It operates an integrated pulp and paper mill in Kuopio.

Powerflute expects to post a turnover of €183m with an EBITDA of €42m for 2017.

People
Nordic Packaging and Container Holdings – David Walton (CFO).

Advisers
Equity – Kirkland & Ellis (legal); Barclays Investment Bank (M&A).
Company – Hannes Snellman Attorneys (legal).

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