Magnusson Finland advised Vitrulan Composites Oy on its acquisition of the glass fiber reinforcement business of Ahlstrom-Munksjö OYJ.

Vitrulan Composites Oy has agreed to acquire the glass fiber reinforcement business of Ahlstrom-Munksjö OYJ in Mikkeli, Finland. Vitrulan Composites Oy is a wholly owned subsidiary of Vitrulan Group and part of the family-owned industrial holding ADCURAM Group. The Mikkeli plant of Ahlstrom-Munksjö OYJ employed about 100 people and generated net sales of approximately MEUR 30, according to 2018 figures. The purchase price is MEUR 6.5 calculated on a debt free basis. Subject to customary closing terms, the transaction is expected to be closed during Q4 of 2019.

The acquisition of the Ahlstrom-Munksjö’s Mikkeli glass fiber reinforcement business will bring significant growth to Vitrulan Group, which produces highly resilient glass fiber based woven materials.

Vitrulan Group has approximately 400 employees and generates net sales of approximately MEUR 60. Vitrulan Group’s woven materials are used in public and private buildings, reinforcing and backing fabrics, laminates and special products. Read more at: www.vitrulan.com/en/

ADCURAM Group comprises six subsidiaries with around 2,500 employees globally and a combined sales of more than MEUR 400. It actively develops its subsidiaries with the aim of significant growth. Read more at: www.adcuram.com

The Magnusson team, led by Heikki Wide, comprised

• Maher Khadour
• Kaija Pulkkinen
• Maria Siro
• Lilli Parbo
• Laura Hirvijoki