Accursia Capital makes binding offer for Ahlstrom Stenay mill
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Ahlstrom has found a potential buyer for the Stenay specialty paper mill in France. Germany's private-equity company Accursia Capital already submitted a binding offer.
Specialty paper and materials manufacturer Ahlstrom intends to close or sell the loss-making French site in Stenay. After a search and exploratory process lasting several months, a suitable buyer for the paper mill seems to have been found: Ahlstrom received a binding offer from the German private equity holding Accursia Capital. The takeover is still subject to consultations with employee representatives, Ahlstrom explained.
“Since the beginning of the consultation period, finding a buyer has been Ahlstrom’s priority. With a strong commitment to achieving a positive outcome for all parties involved, Ahlstrom would be dedicated to making every effort during the transition to ensure the plant successfully enters its new chapter,” Ahlstrom explained.
And Accursia Capital also seems keen to get started soon and put the Stenay site on the road to success. “We look forward to starting the development of the plant together with the employees and local management to establish Stenay as a strong player in the highly competitive paper-based packaging market,” said Martin Scheiblegger, CEO of Accursia Capital.
Ahlstrom employs 120 people in Stenay and operates one paper machine with a production capacity of approximately 55,000 tpy. The mill produces one-side coated specialty papers for specific applications in the packaging sector. According to Accursia, the mill has its own research and development department with the capability to develop new formulations and manufacturing processes and is able to provide customer-oriented solutions for a wide range of applications.
Munich-based Accursia Capital focuses on medium-sized industrial companies in Europe and specializes in takeovers and turnaround of distressed companies, non-core group subsidiaries, and underperforming assets.
In 2021, Accursia took over French coreboard manufacturer Cenpa. “We are confident that with Accursia’s support, the plant will achieve a turnaround in a similar fashion as Cenpa did over the last two years,” the company said.
