Valmet Strengthens Business by Acquiring Pulp and Paper Tech Supplier GL&V

The acquisition is estimated to be completed at the earliest on April 1, 2019.

February 26, 2019

According to Pasi Laine, President, and CEO of Valmet, the acquisition has an excellent strategic fit and further strengthens Valmet’s business and services capabilities.

Valmet has 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.
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.
GL&V’s washing, oxygen delignification and bleaching operations with Compact Press®, pumps and mixers technology for chemical pulping as well as the related Product Center in Karlstad Sweden are not included in the transaction scope.