MB Funds to be the new owner of Kotkamills Oy
The owner of Kotkamills Oy, OpenGate Capital, has signed a definite agreement to sell Kotkamills Oy to an independent Finnish private equity firm MB Funds (MB Rahastot Oy).
The acquisition is expected to be confirmed by the competition authorities by the end of April 2015 at the latest.
MB Funds is an independent Finnish private equity firm that invests in solid Nordic companies operating in different business sectors. The fund investors of MB Funds include many of the significant Finnish institutional investors.
Managing Partner of MB Funds, Mr. Hannu Puhakka, comments the acquisition: ”The work done in Kotkamills during the past few years has been excellent, resulting to a significant growth in the company profitability. As new owners of the company we are ready to invest remarkably in it, and together with the skillful personnel we will be able to develop the company even more competitive.”
Mr. Julien Lagrčze, Partner at OpenGate Capital says, “Since 2010, Kotkamills has undergone a series of transition, stabilization and growth initiatives that enabled the business to adjust to changes in the paper market, respond to demands for eco-friendly products, and mitigate against the continual decline in magazine papers. Through the leadership of Kotkamills’ CEO, Tuija Suur-Hamari, and the entire staff at Kotka, the business of Kotkamills today is extremely well positioned for its next phase of growth under the stewardship of MB Funds.”
“It has been a pleasure working with the team at OpenGate Capital. Under their guidance, we have been able to accomplish growth and created measurable, new value. The Kotkamills business has been transformed into a thriving and stable operation and we are well positioned. It was impending that in some stage OpenGate Capital would divest its shares of Kotkamills Oy. I believe that MB Funds is a stable owner who is committed to the development of the company”, concludes CEO of Kotkamills Oy, Mrs. Tuija Suur-Hamari.
MB Funds / MB Rahastot Oy
Managing Partner Hannu Puhakka, tel. +358 9 1310 1352, +358 50 511 3917, firstname.lastname@example.org
Partner Julien Lagrčze, tel. +33 6 62 52 53 99, email@example.com
CEO Tuija Suur-Hamari, tel. +358 40 529 6912, firstname.lastname@example.org
Kotkamills is a responsible partner that delivers renewable products and performance to its customers’ processes via product innovations created from wood, a renewable raw material. Our key brands include Absorbex® and Imprex®, both innovative laminating paper products for the laminate, plywood and construction industries, and Solaris®, a high bulk, efficient coated printing paper for quality publications. Moreover, Kotkamills also offers ecological, technically sound and visually attractive wood products for demanding joinery and construction. www.kotkamills.com