Nordic Paper with a new majority owner
Special Situations Venture Partners III (SSVP), a private equity fund advised by Orlando Management AG, is the new majority owner of Nordic Paper.
SSVP acquired 60 percent of the shares of Nordic Paper from shareholders NorgesInvestor, Richard Heiberg Invest AS, JSR Invest AB, and Hartvig Wennberg AS. Current owner Petek GmbH, who has been a shareholder of the company for the last ten years, keeps a share of 40 percent. The change in ownership will not involve any structural changes for Nordic Paper’s operations.
Change of CEO
Jan Runo, who retires as CEO in connection with the sale, says: “I am both happy and sad to hand over my post to the new CEO Per Bjurbom. Leading Nordic Paper has been a fantastic journey and looking back on the company’s development over the past ten years, is a very positive memory. I am convinced that Per Bjurbom will lift the company to the next level, which is what Nordic Paper is equipped for.” Jan Runo will continue to support Nordic Paper´s development as chairman of the board of directors. Per Bjurbom has worked for over 25 years in the Scandinavian pulp and paper industry, holding senior positions at BillerudKorsnäs and Stora Enso, among others. “I am very glad to be trusted with this big task. I am also excited about the challenge of managing Nordic Paper and bringing in my extensive experience”, he says.
Founded in 2001, Orlando Management AG is the advisor of the SSVP funds on investments in medium-sized companies and corporate subsidiaries. With more than 70 years of investment experience shared amongst the four partners of Orlando Management AG and more than 30 acquisitions over the last 14 years, SSVP is one of the most experienced industrial investors in Europe. SSVP has a long-term track record in creating sustainable value through a focus on portfolio companies’ operational strengths. The majority of investments have been in production companies with a business-to-business model similar to Nordic Paper. SSVP funds have equity commitments of more than EUR 480 m. The current portfolio consists of eleven companies with annual worldwide revenues of more than EUR 1.6 billion.
Facts about Nordic Paper:
Nordic Paper is a leading producer of specialty paper headquartered in Sweden. The company is the world market leader in greaseproof paper for baking paper and baking cups as well as a market leader in high-strength non bleached kraft paper. Nordic Paper emerged from a combination of different paper businesses initially founded in the late 19th century. The company has four independent production locations in Sweden and Norway.
For more information please contact:
Per Bjurbom, CEO, firstname.lastname@example.org, +46706064363 or
Marie Stenquist, corporate communications/PR, email@example.com, +46725189773