Valmet has completed the acquisition of GL&V, which was announced on February 26, 2019. GL&V is a global provider of technologies and services to the pulp and paper industry. The enterprise value of the acquisition is approximately Euro 113 million on a cash and debt free basis subject to ordinary post-closing adjustments, as the company says in the press release received by Lesprom Network.
The acquired business becomes a part of Valmet's Services business line. GL&V supplies technologies, upgrades and optimization services, rebuilds, and spare parts for the pulp and paper industry globally. The acquired operations had net sales of approximately Euro 160 million in calendar year 2018 and employ about 630 people.
GL&V's washing, oxygen delignification and bleaching operations with Compact Press®, pumps and mixers technology for chemical pulping as well as the related Product Center in Karlstad Sweden are not included in the transaction scope.
Valmet is the leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries.
