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Midas Atlantic Eyes Sylvamo's EU Paper Mills
6 Nov
Summary
- Midas Atlantic and Najafi Companies agreed to buy Sylvamo's European paper business.
- The deal includes paper mills in France and Sweden, generating EUR 630 million revenue.
- The acquisition is expected to finalize in early 2027 after approvals.
Midas Atlantic Partners and The Najafi Companies have entered into a put option agreement to acquire Sylvamo Corporation's European operations. The transaction includes the uncoated freesheet paper mills located in Saillat, France, and Nymölla, Sweden, along with associated forestry and business operations across Europe. This European business is a key producer of uncoated woodfree paper for office and commercial printing.
In the fiscal year ending December 2025, the European operations reported revenues of approximately EUR 630 million. The acquisition is anticipated to close in the first quarter of 2027. This timeline is contingent upon the completion of necessary consultation processes and the successful obtainment of regulatory approvals. Sylvamo expressed confidence in Midas Atlantic and The Najafi Companies as the right stewards for their former European assets.
Midas Atlantic highlighted the acquisition as a typical business they seek, noting its significant scale and clear value creation potential, coupled with the complexity of a carve-out. They are actively seeking further investment opportunities within the European industrial sector. The companies involved were advised by Eversheds Sutherland (Legal) and Interpath (Carve-out).
