KAUKAUNA - Expera Specialty Solutions announced today that Ahlstrom-Munksjo completed the purchase of U.S. specialty paper producer Expera for an enterprise value of 615 million dollars.
Expera is among the leading specialty paper producers in North America with four paper mills located in Wisconsin.
Hans Sohlstrom, President and CEO of Ahlstrom-Munksjo said, "This acquisition is a major step in the execution of our strategy. It will further strengthen our position in fiber-based materials and enable us to offer more value to our customers, particularly in North America, but also around the world. We have complementary capabilities and can create further value through joint product development and sharing of best practices. Finally, I would like to welcome Expera's personnel to Ahlstrom-Munksjo."
Russ Wanke, the former President and CEO of Expera, has been appointed Executive Vice President, North America Specialty Solutions and a member of Ahlstrom-Munksjo Executive Management Team.
"Our companies are stronger together. We share a deep paper making history with customer-focused values," Wanke commented. "As a larger Ahlstrom-Munksjo, the combined resources will allow us to better serve our customers, and in doing so promote continued revenue growth and customer, end-application, and geographic diversification."
The acquisition was announced on July 23, 2018.
Expera will be consolidated as part of Ahlstrom-Munksjo from October 10, 2018 onward.