11 July 2007, Press release
Dynea closes divestment of its North American operations
Helsinki, Finland – The Finnish adhesive resin producer Dynea today announced the closing of the sale of its North American operations to Teachers’ Private Capital, the private investment arm of the Ontario Teachers’ Pension Plan. The value of the transaction was US$ 350 million.
“This divestment gives Dynea the resources to focus on our strategy to expand in key growth markets in Eastern Europe and the Asia Pacific region,” says Roger Carlstedt, President and CEO of Dynea.
Dynea North America has operations in Canada, Mexico and the United States, and is one of the three major producers of resins and overlays products to the industry in the region.
For more information, please contact:
Mr Roger Carlstedt, President and CEO, Telephone +358 10 585 2030
Mr Filip Frankenhaeuser, Executive Vice President and CFO, Telephone +358 10 585 2011
Dynea in brief
Dynea is an international leader in creating high value adhesion and surfacing solutions for the wood processing and construction industry as well as for selected industrial applications. Today, after divesting its North American operations, Dynea has forty production units and some 2,200 employees in 23 countries in Europe, the Asia Pacific region and South America. Dynea is controlled by the European private equity firm Industri Kapital’s 1997 and 2000 funds. For further information: www.dynea.com
Teachers’ Private Capital in brief
Teachers’ Private Capital is the private investment arm of the $CDN106 billion Ontario Teachers’ Pension Plan, an independent corporation responsible for investing the pension fund’s assets and administering the pensions of Ontario’s 271,000 active and retired teachers. With more than $16 billion in assets, Teachers’ Private Capital is one of Canada’s largest private investors, providing equity and mezzanine debt capital for large and mid-cap companies, venture capital for developing industries, and financing for a growing portfolio of infrastructure and timberland assets worldwide. For further information: www.otpp.com
Industri Kapital in brief
Industri Kapital is a European private equity firm with Nordic roots, managing close to EUR 4 billion in fund commitments. Since 1989, Industri Kapital has acquired 64 European companies. The current portfolio encompasses 23 companies with a total turnover close to EUR 9.3 billion. Industri Kapital invests mainly in mid-sized companies with strong cash flow and profit improvement potential, operating in mature industries with fundamental underlying growth. For further information on Industri Kapital: www.industrikapital.com