Valmet has completed the acquisition of GL&V, which was announced on 26th February, 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 €113m on a cash and debt free basis subject to ordinary post-closing adjustments.
The acquired business becomes a part of Valmet’s Services business line. GL&V supplies technologies, upgrades and optimisation services, rebuilds, and spare parts for the pulp and paper industry globally. The acquired operations had net sales of approximately €160m in 2018 and employ about 630 people.
GL&V will be included in Valmet’s financial reporting for the first time in Valmet’s Half Year Financial Review 1st January-30th June, 2019.
