Valmet Agrees to Acquire GL&V for $113 Million

摘要

Valmet in February entered into an agreement to acquire North American-based GL&V,a global provider of technologies and services to the pulp and paper industry.The enterprise value of the acquisition is approximately EUR 113 million on a cash and debt free basis subject to ordinary post-closing adjustments.The acquisition is estimated to be completed at the earliest on April 1,2019.GL&V supplies technologies,upgrades and optimization services,rebuilds,and spare parts for the pulp and paper industry globally.The net sales of the acquired operations were approximately EUR 160 million and the EBITA margin was around 11 percent in calendar year 2018.The acquired operations employ about 630 people of whom approximately 65 percent are in North America and the rest mainly in Europe,South America and India.