NEW YORK--(BUSINESS WIRE)--Lindsay Goldberg has acquired the Specialty Papers Business Unit of P. H. Glatfelter Company, and rebranded it as Pixelle Specialty Solutions.
Pixelle Specialty Solutions is one of the largest specialty paper producers in North America. It maintains industry-leading positions in food contact papers, high speed inkjet papers, release liner, carbonless forms, envelopes, greeting cards, trade book paper, and playing cards.
Pixelle Specialty Solutions operates two integrated mills (Spring Grove, PA and Chillicothe, OH), converting operations (Fremont, OH), and woodyard operations (Delmar, MD; Piketon, OH; and Washington, WV).
Lindsay Goldberg is a private investment firm managing $13 billion of equity capital that focuses on partnering with families, founders and management teams seeking to actively build their businesses. Lindsay Goldberg is currently invested and building value in Crown Paper Group (and subsequent acquisition Montebello Container) and Golden West Packaging Group (and subsequent acquisition Fleetwood-Fibre Packaging and Graphics). Lindsay Goldberg Affiliate Partner Steve Klinger and his management team have a combined 150 years working together in the paper industry at Georgia-Pacific, Smurfit-Stone, Crown Paper Group, and Golden West Packaging Group.
Klinger will serve as Chairman of Pixelle Specialty Solutions. Commenting on the acquisition, he said, “We are extremely excited by the opportunity to work with Pixelle to build on its great reputation with customers and strengthen its leading market position. The value we bring to Pixelle is our differentiated, customized approach to manufacturing. We are in an extremely competitive paper industry that requires mills to be efficient, productive, and low cost. We know how to drive operational efficiencies by engaging employees and simultaneously working safely and minimizing environmental footprints. We have already identified numerous investments to improve efficiency and productivity, and we are ready to begin executing.”
Tim Hess will continue in his role as President of Pixelle Specialty Solutions. Commenting on the opportunity ahead, he said, “Pixelle has an excellent reputation with our customers, category leading products and an experienced work force. Lindsay Goldberg is well-known for its long term approach to building high-performance businesses. We are highly energized to combine Lindsay Goldberg’s expertise with our leading portfolio of products to continue to exceed customer expectations.”