Tag: Evergreen Hill Enterprise

  • SWM Deal Complete

    SWM Deal Complete

    Photo: SWM

    SWM International has been successfully acquired by Evergreen Hill Enterprise. The company will now operate as an independent privately owned business with its headquarters located in Luxembourg.

    SWM International is a leading supplier of premium, highly engineered lightweight materials. The company serves various industry segments, including tobacco, cannabinoids, battery, surface protection, packaging and medical. With a global footprint including facilities in Asia, Europe, Latin America and the United States, the company is home to nearly 2,000 employees worldwide, including an experienced management team.

    “Today marks a milestone for our employees, our customers and our partners,” said SWM CEO Katrin Hanske in a statement. “Leveraging our profound engineering expertise in botanicals and natural fibers, we are dedicated to further advancing innovation in our distinctive products and technologies, all while expanding our manufacturing capabilities.”

    The acquisition was first announced in August 2023. Headquartered in Singapore, Evergreen Hill Enterprise is affiliated with BMJ of Indonesia.

  • BMJ Affiliate to Buy Mativ Papers Business

    BMJ Affiliate to Buy Mativ Papers Business

    Photo: SWM

    BMJ affiliate Evergreen Hill Enterprise has offered $620 million to acquire Mativ Holding’s engineered papers (EP) business, which supplies papers to the tobacco industry.

    “While a solid business, EP’s concentration in the tobacco industry is not aligned with Mativ’s long-term ambition and presents a more attractive value proposition under new strategic ownership,” said Mativ CEO Julie Schertell in a statement. “Our talented and dedicated employees will continue to deliver outstanding products and service to EP’s long-standing customer base, and we are confident in a smooth transition.”

    Mativ intends to use the proceeds of the proposed transaction to pay down debt.

    Subject to customary closing conditions, including regulatory approvals and satisfaction of the consultation process with the applicable works councils in France, the proposed transaction is expected to close in the fourth quarter of 2023

    Based in Singapore Evergreen Hill Enterprise is part of a successful, Indonesian-based privately held group of diversified companies serving the tobacco, banking and consumer electronics industries, among other sectors.

    The buyer is expected to fund the proposed transaction with existing cash balance and is not dependent on capital markets for financing

    Mativ Holding was created out of the 2022 merger between Schweitzer-Mauduit International and Neenah, two leading global manufacturers of specialty materials.

    BMJ said its business would continue to operate as usual. “There will not be an integrated structure between BMJ and SWM so that both companies will maintain the autonomy of action and confidentiality of projects,” the company wrote in a statement.

    “Having said that, BMJ is delighted to be affiliated with SWM, a prominent supplier of engineered papers. This affiliation will open opportunities for BMJ to collaborate with SWM in some strategic areas, including, but not limited to offering complimentary geographic reach and product lines, ultimately providing comprehensive and unparalleled value to the customers and stakeholders.”