Orlando takes majority stake in Nordic Paper

The acquisition was made through the GP's Special Situations Venture Partners III; the €231m vehicle targets industrial mid-sized companies with revenues of up to €500m or an enterprise value of €10-100m that are typically underperforming or in balance sheet distress.

However, incoming CEO of Nordic Paper Per Bjurbom told unquote" he does not consider the company to fall under any of the above categories.

He said some of the shareholders in Nordic Paper had been looking to sell for a couple of years, when the opportunity arose from Orlando's bid.

Current owner and shareholder for 10 years, Petek will retain the remaining 40% of the company; Orlando's stake was bought from NorgesInvestor, Richard Heiberg Invest and Hartvig Wennberg.

The deal will also see CEO Jan Runo retire, with Per Bjurbom as his replacement. Bjurbom has 25 years' experience in the Scandinavian pulp and paper industry, including a stint at Stora Enso.

Orlando has previously invested in the paper industry, with deals in both speciality paper and machinery.

Previous funding
Nordic Paper was acquired by Petek, NorgesInvestor and management in 2006, when the company was bought from Norske Skogindustrier and M Peterson & Søn.

Company
Nordic Paper is a producer of speciality paper products such as greaseproof paper. The company is headquartered in Sweden, with production facilities in Sweden and Norway.

Based in Säffle, the company's origins date back to the 19th century.

People
Per Bjurblom is the incoming CEO of Nordic Paper. Henrik Fastrich and Georg Madersbacher are founding partners at Orlando Management.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Nordics
• Industrials
• Buyouts
• Sweden
• Norway
• Germany
• Orlando Management GmbH
• Unq2015Jan