01 May Latest News: BTD assists Glatfelter
Here is the text of the BTD press release issued today, Wednesday 1st May.
M&A and integration specialists BTD support $209m acquisition of Dresden Papier by Glatfelter
Glatfelter (NYSE: GLT), a US-based global manufacturer of specialty papers and fiber-based engineered materials, yesterday completed the purchase of Dresden Papier GmbH from Fortress Paper Ltd. (TSE: FTP) for €160 million (approximately U.S.$209 million). Alongside banking, legal and other advisers, Glatfelter used London-based M&A firm BTD to help co-ordinate the pre-deal activities and ensure post-deal integration considerations were incorporated into overall due diligence effort.
Going forward, BTD has also been retained to co-ordinate and support the integration of Dresden Papier into Glatfelter’s Composite Fibers Business Unit.
Chris Astley, Glatfelter’s Vice President – Corporate Strategy and Global Head of M&A, commented, “The complexity of pre-deal due diligence and its relationship to successful post-merger integration requires thoughtful identification and use of advisers. BTD’s experience and professionalism has contributed to our confidence that this deal will create meaningful value for Glatfelter’s shareholders.”
Carlos Keener, founding Partner of BTD, commented, “Long-term deal benefits are only achieved when you view deal-making and integration as a single, seamless process. We were very pleased to be selected by Glatfelter, who understand the need to actively ‘join the dots’ in this respect. The solid work done together by Glatfelter and BTD will help ensure post-close realities match pre-close aspirations and expectations, and look forward to helping them deliver on the promise of this acquisition.”
BTD is a specialist M&A and integration advisory and services firm, established in 2001. With offices in London and Boston, it supports businesses across the globe looking to improve their M&A performance.