Eagle Industries Oy has signed an agreement to acquire 100 % of the shares in Kotkamills Oy from OpenGate Capital. Eagle Industries is owned by MB Funds, Nordic Mezzanine, Elo Mutual Pension Insurance Company, Finnish Industry Investment and company management. After a few years, Kotkamills will again return to full Finnish ownership. The transaction will require an approval by the competition authorities, and it is expected to be closed by the end of April.
Kotkamills Oy is a Finnish forest industry company with a long tradition of over 140 years in the business. Its products include laminating base papers, impregnated products, magazine papers and sawmill products. Kotkamills has two production facilities in Finland and one facility in Malaysia. The company has approximately 500 employees, with a majority located in Finland. The turnover of Kotkamills Oy was 262 million euros in 2014.
“Kotkamills Oy has gone through a major development in recent years since OpenGate Capital acquired the company from Stora Enso. It has also considerably strengthened its market position as an independent company. For Kotkamills Oy, the announced ownership change is a positive boost, as it will open further growth opportunities backed by a Finnish private equity firm”, says Tuija Suur-Hamari, the Managing Director of Kotkamills Oy.
”Kotkamills Oy is a market leader in laminating papers in Europe. The company has outstanding expertise in forest industry, and our aim is to develop and strengthen the company’s businesses in chosen segments substantially. Eagle Industries is ready to invest considerably into this development”, states Hannu Puhakka, Managing Partner of MB Funds.
For further information, please contact:
Managing Partner, MB Rahastot
+358 9 1310 1352 / +358 50 511 3917
Managing Director, Kotkamills Oy
+358 40 529 6912.