The Flensburg operation consists of one paper machine and two coating lines with a total annual capacity of 35,000 tons. It produces coated specialty papers with focus on thermal and barrier papers and sells globally to a broad customer base. With a company history spanning more than 300 years, the Flensburg mill is known today for its strong technological know-how and an innovation-driven and loyal workforce. Its paper is valued for its unique product specifications and is used for various applications such as event tickets, lotteries, labels, food tags, cash receipts, food packaging and more. The workforce of more than 200 employees will be fully retained under the new ownership.
Mr. Christian Holland-Moritz, a long-standing portfolio manager for QCP, will serve together with the incumbent plant manager Mr. Joachim Küster as co-Managing Directors of Fjord Paper Flensburg GmbH.
Commenting on the transaction, Mr. Holland-Moritz said: ”This mill and its long-standing history are an important part of Flensburg. We see great potential in the paper mill and its products, which are used by people worldwide on a daily basis. Together with the employees and the ambition to find sustainable solutions, we are moving towards the next chapter. Flensburg’s paper story will carry on.”
About Mitsubishi HiTec Paper Europe (MPE): MPE is a manufacturer of coated specialty paper with mills in Bielefeld and Flensburg. With the completed transaction, MPE is now able to focus on its business in Bielefeld and continue to serve its customers all over the world with different types of thermal paper, inkjet paper, carbonless paper and more.
About Quantum Capital Partners (QCP): QCP is a manager of funds that invest in corporate carve-outs across Europe. The QCP operations are managed through its Munich headquarters, as well as through offices in Hamburg and Madrid. QCP-managed funds acquire companies with significant potential for operational improvement, growth and synergies. QCP works closely with local management to ensure that its affiliates implement a continuous development plan and growth strategy. Since its inception in 2008, QCP-managed funds have acquired a variety of businesses from leading companies such as Robert Bosch, Stora Enso, Dürr, Airbus, Nestlé, Mahle, Tenneco, Norsk Hydro and Eaton. With 35 completed acquisitions since 2014, the funds managed by QCP are one of the most active investors in its sector.