Finland-headed forest industry and energy technology provider Valmet Oyj has announced that it has completed the acquisition of J&L Fiber Services Inc., a manufacturer, and provider of refiner segments to the pulp, paper and fiberboard industry located in Wisconsin, United States (US). The enterprise value of the acquisition that was completed May 1, 2019, is approximately EUR 51 million on a cash and debt-free basis subject to ordinary post-closing adjustments.
According to a statement, J&L Fiber Services manufactures and supplies low-consistency refiner segments that are important wear parts used in pulp and paper production, complementing Valmet’s offering in refiner segments.
It also supplies high-consistency refiner segments that are used in thermomechanical pulping and medium density fiberboard (MDF) refining.
The acquired operations employ about 100 people, most of whom are located in Wisconsin and becomes a part of Valmet’s Services business line, as Waukesha Service Center. J&L Fiber Services operates globally through a sales representative and distribution network. Over 75 percent of its sales go to North America.
We are continuously strengthening our stable business, meaning Services and Automation. The recent acquisition of North America -based GL&V is now followed by adding J&L Fiber Services’ complementary refiner segment products to our services offering. This acquisition also further strengthens our local presence, especially in North America. I warmly welcome the 100 new employees to become part of the Valmet team and into our strong, global Services organization, commented Pasi Laine, President, and CEO of Valmet.