Pixelle Specialty Solutions LLC, an affiliate of Lindsay Goldberg, has finalized the acquisition of Glatfelter's Specialty Papers division, including multiple paper mills and operations, for approximately $360 million.

Target Information

The recent transition of Chillicothe’s paper mill from Glatfelter to its new owner, Pixelle Specialty Solutions LLC, has officially been finalized. Pixelle Specialty Solutions is an affiliate of Lindsay Goldberg, a prominent global private equity firm, which entered into a definitive agreement in August to acquire Glatfelter's Specialty Papers division. This division encompasses multiple operations including the Chillicothe and Spring Grove paper mills, a converting facility in Fremont, as well as wood yard operations located in Piketon, Maryland, and West Virginia.

The acquisition presents a strategic opportunity for Pixelle Specialty Solutions, which is poised to implement targeted operational changes aimed at enhancing productivity and efficiency in this highly competitive industry. Steve Klinger, an affiliate partner at Lindsay Goldberg, will take the role of chairman of Pixelle, expressing enthusiasm for the potential growth and operational improvements following the acquisition.

Industry Overview

The paper industry, particularly in the United States, has faced significant challenges in recent years due to evolving market conditions and a shift in consumer demand. The Specialty Papers segment has been notably impacted, prompting