Ahlstrom strengthens advanced filtration business
10th September 2012, Helsinki
Ahlstrom has signed an agreement to acquire the Swedish company Munktell Filter AB in a strategic move to grow its advanced filtration business particularly in life science and laboratory applications.
Under the agreement, Ahlstrom will acquire all of the shares in Munktell Filter AB, as well as its holdings in Munktell & Filtrak GmbH, Filtres Fioroni SA and Munktell Inc. The value of the transaction is approximately EUR 20 million, including the planned subsequent buyouts of minority interests. Through the transaction, Ahlstrom will become a global leader in life science and laboratory media filtration.
According to Jan Lång, Ahlstrom President & CEO, the acquisition reinforces Ahlstrom's leadership in filtration material markets worldwide.
“There is a clear strategic fit with Munktell and Ahlstrom, and the transaction allows us to strengthen our product portfolio in advanced filtration materials. This move is a prime example of our focus on new type of high performance materials business with attractive future growth potential," Mr Lång said.
"When we combine Munktell's strong position in the European advanced filtration market with our solid presence in North America, we will gain access to new markets geographically. Driven by global changes in demographics, life science and laboratory filtration are lucrative growth areas for us," added Tommi Björnman, Executive Vice President, Filtration at Ahlstrom.
Munktell is based in Falun, Sweden and has production sites in Germany and Sweden, a joint venture in France, as well as a sales office in the U.S. The company's net sales amounted to approximately EUR 15 million and operating profit margin was roughly 15% in 2011.
It employs around 100 people and makes filtration materials mainly for life science and laboratory applications. End-use examples include new born screening, laboratory media filtration, filter materials for pollution control, as well as testing materials used by medical, sugar and beverage industries.
Munktell will be integrated into Ahlstrom's Filtration business area. The acquisition is expected to be completed by the end of October 2012 and is subject to customary regulatory approvals. Ahlstrom is the global leader of filtration materials with 11 production sites producing filtration materials across four continents.
Author: Billy Hunter