OpenGate Capital Closes Kotka Mills Transaction
Leading Finnish Laminating Paper and Wood Product Company Presents Future Growth Opportunities for Global Private Investment Firm
Los Angeles, CA and Paris, FRANCE – July 1, 2010 – OpenGate Capital, a global private equity firm, has closed its acquisition of the Kotka Mills division of Stora Enso, a multi-billion euro, publicly traded Finnish corporation, along with Stora Enso’s laminating paper operations in Malaysia. The transaction also includes Stora Enso’s related business operations in Tainionkoski, Finland. Today, OpenGate Capital unified and rebranded these entities under the name Kotkamills, enabling them to continue selling high-quality specialty papers and wood-based products to the global laminate, plywood, construction and magazine industries under one new company.
Kotkamills President Tuija Suur-Hamari said, “We are thrilled to be partnering with OpenGate Capital, which shares our long-term commitment to the business and pride in our 135-year heritage. Our team is eager to initiate new capital investment projects and new product developments with the support of OpenGate to ensure our future growth plans and continue to meet our customer needs around the world for years to come.”
Kotka, Finland is the global headquarters of the company. The new Kotkamills is committed to continuing to provide customers with the utmost quality and service, and to managing and developing its business in a sustainable manner. Ongoing research and development are also key priorities, as well as maintaining the consistent superiority of its primary products for which the company is known, including its Absorbex, Imprex and Solaris brands and various wood products. The largest part of the business, the laminating paper division, is experiencing robust demand year over year and is a strong global market leader in its product categories. Kotkamills generates approximately €250 million in annual revenue and employs about 570 people.
About OpenGate Capital
OpenGate Capital is an opportunistic private equity firm that acquires controlling interests in businesses with solid fundamentals that exhibit opportunities for operational improvements and growth. Established in 2005, OpenGate Capital has a global footprint with headquarters in Los Angeles, California and a principal office in Paris, France. OpenGate is served by a seasoned team of M&A and operating professionals that bring the skills needed to acquire, operate and build successful companies. The partners of OpenGate have executed more than 100 transactions worldwide ranging from corporate divestitures, turnaround acquisitions, industry consolidations and other special situations investments across a wide array of industries and geographic markets.
For more information about OpenGate Capital, please visit our website at www.opengatecapital.com.
About Kotkamills Oy
Based Kotka, Finland, Kotkamills manufactures high-quality specialty papers and wood-based products for the laminate, plywood, construction and magazine industries around the world. The company also has operations in Malaysia and Tainionkoski, Finland. With roots dating back to 1872, Kotkamills today is a global leader recognized for its excellence in production, customer service, research, and product development. Its widely known products include the Absorbex, Imprex and Solaris brands and various wood products. Sustainability is also an important element to Kotkamills. Kotkamills is an OpenGate Capital company.
For more information about Kotkamills, visit our Website at www.kotkamills.com.
OpenGate Media Contact:
OpenGate Business Development Contact:
Dionisio Lucchesi, VP
|Kotkamills Oy Branch office in Hamburg, Germany||13 December, 2010|
|Kotkamills Oy invests in ABB’s integrated Collaborative Production Management system||2 December, 2010|
|Kotkamills’ e-mail addresses and telephone numbers updated||15 November, 2010|
|Appointment in Kotkamills' finance organization||15 November, 2010|
|Kotkamills Oy Branch office opened in Germany||21 October, 2010|
|Kotkamills invests in recovered fibre (RCF) processing plant||20 September, 2010|
|Appointments in sales organization||5 July, 2010|
|OpenGate Capital Closes Kotka Mills Transaction||1 July, 2010|
|New website is open!||1 July, 2010|
|OpenGate Capital to Acquire Kotka Mills, a Leading Specialty Paper, Wood Product Manufacturer in Finland, from Stora Enso||22 April, 2010|