Los Angeles, California, USA, and Paris, France, 01 July 2010 -- (BUSINESS WIRE) -- 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.
“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," said Tuija Suur-Hamari, Kotkamills president. "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 is maintaining the consistent superiority of the primary products for which the company is known 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 EUR 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 headquarters in Los Angeles, California, USA, and a principal office in Paris, France. OpenGate is served by a seasoned team of mergers and acquisitions 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.
About Kotkamills Oy
Based in 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. Sustainability is also an important element to Kotkamills. Kotkamills is an OpenGate Capital company.