Nordic Paper is a leading manufacturer of specialty papers with a focus on sack paper (e.g. food packaging) and greaseproof paper (e.g. baking paper) where Nordic Paper is the world market leader. The Group produces almost 300k tons of specialty papers at four production sites in Sweden and Norway, mainly for export, with major end-user markets in Europe, Asia, and the USA. Nordic Paper employs over 600 people and has a turnover of approximately €300m per year.

Company Name

Nordic Paper

Reason for Participation

Reorganization of shareholder structure


Kristinehamn, Sweden

Date of Acquisition

November 2014


Specialty paper production





  • Refocusing and expansion of profitability

  • Optimization of market and sales strategy and numerous operational measures to increase production efficiency

  • Profitable growth in foreign markets and optimization of cost structure

Value increasing measures

In the context of the acquisition of the company, the existing majority shareholder received support to unify a very heterogeneous and complex group of minority shareholders. This enabled the group to adopt a more focused strategic approach and better focus on key operational initiatives. In spite of what is classically a difficult industry from an investor's perspective, the sellers were offered a very attractive structure.

Additionally, in the years following the acquisition, it was possible to increase the productivity and efficiency of manufacturing and purchasing through operational measures and assistance. In addition, initiatives in logistics optimization helped to reduce the cost base. The market and sales strategy, especially in the greaseproof paper sector, was also revised, which had a significant impact on sales and profitability in the sector.

Following the implementation of the operational measures, the Group was sold to a strategic market companion, who provided additional impetus, particularly on the sales side.

Results achieved

With the help of a multitude of operational measures, the operating result of the company was increased by more than 25% and the strategic positioning was further optimized.