Brown Gibbons Lang & Company (BGL), the United States office of Global M&A, one of the world’s leading independent M&A advisory firms, today announced the sale of Iggesund Tools International AB (Iggesund Tools) to international technology company ANDRITZ AG (WBAG: ANDR) (ANDRITZ Group).
Headquartered in Iggesund, Sweden, Iggesund Tools supplies wood chipping and debarking equipment, mainly chipper knife systems, for pulp and saw mills. The purchase includes Iggesund’s subsidiaries in the U.S., Canada, and other countries. The acquired companies have approximately 160 employees.
Headquartered in Graz, Austria, ANDRITZ Group provides customized plant, systems, and services for the hydropower, pulp and paper, steel, and other specialized industries including solid/liquid separation and feed and biofuel technology. The acquisition of Iggesund Tools will complement its service offerings in the wood processing area within its Pulp & Paper business line. Iggesund Tools is the company’s first acquisition in 2011 following on an active year in 2010 totaling five acquisitions. The Group has approximately 15,900 employees worldwide with operations in Europe, North America, South America, and Asia. The company generated revenues of €3.7 billion and EBITDA of €314 million for the last twelve months ended March 31, 2011.
Brown Gibbons Lang & Company is a leading independent investment bank serving middle market companies and their owners throughout the U.S. and internationally. BGL’s professionals are experts in mergers & acquisitions, debt & equity placements, financial restructurings, and valuations & financial opinions. BGL is the lead U.S. shareholder in Global M&A, the world’s leading partnership of independent middle market financial advisory firms focusing on cross-border transactions. For more information, visit www.bglco.com.
Global M&A is one of the world’s leading independent M&A advisory firms. Specialized in the middle market, we provide support and opportunities locally and internationally for clients buying or selling companies as well as financings, corporate restructurings, and other corporate finance transactions. For more information, visit Global M&A.