Ahlstrom drives growth transformation with Stevens Point acquisition and strategic repositioning of Performance Materials portfolio
AHLSTROM OYJ PRESS RELEASE 3 APRIL 2025 AT 15.00 CEST
Ahlstrom, a global leader in fiber-based specialty materials, today announces the execution of a binding agreement to acquire Stevens Point, a high-end solutions provider in food, consumer packaging and e-commerce applications, from Pixelle Specialty Solutions.
In parallel, Ahlstrom will create a dedicated Performance Materials cluster to sharpen its strategic focus and optimize growth opportunities. These two transformational steps are part of Ahlstrom's ongoing commitments to innovation and customer satisfaction.
Acquisition of Stevens Point
The acquisition of this best-in-class business includes premium-quality products, long-standing customer relationships, and the experience and expertise of its 260 people, representing a significant milestone in Ahlstrom’s growth transformation. Based in Wisconsin, USA, the business adds unique capabilities that will support customers’ transition to sustainable packaging and strengthen Ahlstrom's leadership and footprint in its Food & Consumer Packaging segment. This step aligns with the company’s long-term growth objectives and will deliver more value to its customers and stakeholders.
The acquisition is highly complementary to Ahlstrom’s existing product portfolio. Stevens Point’s superior technical expertise include state-of-the-art finishing and coating capabilities that will significantly enhance the company’s ability to meet growing customers’ needs.
“The acquisition of the Stevens Point operation is a pivotal step in our journey to enhance our technology offerings and expand our solutions and market coverage,” says Konraad Dullaert, Executive Vice President (EVP) Food & Consumer Packaging and Chief Innovation Officer, Ahlstrom. “This business and its highly experienced, top-class team will significantly strengthen our capabilities, enabling us to deliver innovative and sustainable packaging solutions to our customers in North America and beyond. We are excited about the opportunities this acquisition brings and are committed to leveraging these advancements to drive growth.”
The transaction will be financed through a committed USD 600 million senior secured financing package, with any excess available for general corporate purposes. Pro forma for the transaction, the Net Leverage is expected to be 4.1x based on FY 2024 combined financials.
Completion of the transaction is subject to regulatory approvals and other customary closing conditions, with closing expected in Q2 2025.
UBS Investment Bank is serving as financial advisor to Pixelle Specialty Solutions, and Ropes & Gray LLP is serving as legal advisor. PJT Partners is serving as financial advisor to Ahlstrom, and Kirkland & Ellis LLP is serving as legal advisor.
New Performance Materials cluster
In parallel, Ahlstrom will create a dedicated Performance Materials cluster designed to sharpen its strategic focus and optimize growth opportunities.
The new Performance Materials cluster will be comprised of four business units: Release Liners, Precision Coating, Beverage & Casing, and Abrasives. This will enable the cluster to operate with greater flexibility and clearer focus on distinct opportunities to accelerate performance and improve efficiency and competitiveness.
As part of Performance Materials, these business units will continue serving the market with tailored solutions and a strong focus on service, quality, and cost competitiveness. Customers can expect continuity in terms of exceptional levels of service and product quality during the creation of this new cluster, which will be led by Wolfgang Laures, currently Chief Operating Officer, who will become EVP, Performance Materials Cluster.
This change will also benefit the existing three divisions: Food & Consumer Packaging, Filtration & Life Sciences, and Protective Materials. By creating a more simplified structure, the focus of these divisions will increase, allowing them to concentrate on their growth in specialty materials.
The organizational change will take effect on May 1, 2025.
“Together with the acquisition of Stevens Point, the repositioning of our portfolio is a significant transformational step in our journey to become the preferred sustainable specialty materials company,” says Helen Mets, President and CEO, Ahlstrom. “As well as enhancing our leading sustainable solutions offering for customers, we are creating stronger businesses that deliver long-term value for all stakeholders involved.”
The Q1 2025 results publication is planned on April 28.
For more information, please contact:
Katja Ollila, Vice President, Group Marketing and Communications, +358 44 517 0891, katja.ollila@ahlstrom.com
Johan Lindh, Vice President, Investor Relations, +358 10 888 4994, johan.lindh@ahlstrom.com
Ahlstrom in brief
Ahlstrom is a global leader in combining fibers into sustainable specialty materials. Our purpose is to Purify and Protect, with Every Fiber, for a Sustainable World. Our vision is to be the Preferred Sustainable Specialty Materials Company for all our stakeholders. Our three divisions, Filtration and Life Sciences, Food and Consumer Packaging, and Protective Materials, address global trends with safe and sustainable solutions. Our net sales in 2024 amounted to EUR 3.0 billion and we employ some 6,800 people. Read more www.ahlstrom.com.