Tender offer for Ahlstrom-Munksjö shares
A consortium consisting of Ahlström Capital, Bain Capital as well as Viknum and Belgrano Inversiones made a public recommended tender offer for all shares in Ahlstrom-Munksjö. At the completion of the tender offer, Bain Capital would own 55%, Ahlström Capital approximately 36% and Viknum approximately 9% of the shares in Ahlstrom-Munksjö.
The tender offer values Ahlstrom-Munksjö’s total equity at approximately EUR 2.1 billion.
The consortium believes that under private ownership Ahlstrom-Munksjö will be best placed to fulfil its potential from its diversified product portfolio, substantial technical know-how as well as its leading positions in attractive niches. However, the consortium recognises that the sector is becoming increasingly competitive.
The consortium intends to invest significant time, resources and capital to support the company’s strategy for long-term profitable growth, to maintain and further strengthen the company’s existing market positions in its core areas, as well as to invest in new business opportunities. Under private ownership, the company would be ideally positioned to invest further and faster in initiatives to support organic growth as well as benefiting from additional expansionary capital expenditures and acquisitions to strengthen selected areas of the portfolio.
The consortium believes that Ahlstrom-Munksjö, in a private setting, will more effectively manage all above mentioned initiatives as well as current market challenges as management can devote its full attention to business performance without the constraints imposed by its current balance sheet and the public market.
The consortium is well-positioned to support the transformation of the company due to Bain Capital’s considerable experience in the industry and distinctive approach to investments, working alongside management in the pursuit of long-term strategic goals, with the benefit of continuity from the families’ prominent participation in the consortium. Together this unique group of investors is best equipped with the appropriate long-term investment horizon, expertise and capital required to realise Ahlstrom-Munksjö’s potential.
