Valmet strengthened its business by acquiring PMP Group

The acquisition was announced on September 11, 2020 and it was completed on October 1, 2020. The enterprise value of the acquisition was approximately EUR 64 million, plus a conditional and capped earn-out component. 

PMP Group supplies process technologies and services for tissue, board and paper machines globally, focusing on small and medium-sized tissue machines and board and paper machine rebuilds. PMP has operations in four countries: Poland, China, USA and Italy. The acquisition complements Valmet’s offering and builds further our local presence especially in Central Europe and China. 

PMP is included in Valmet’s financial reporting from the fourth quarter 2020 onwards. The acquired business became a part of Valmet’s Paper business line.

 

The acquisition was completed as planned and we are happy to welcome 650 new colleagues to Valmet. The combination of Valmet’s current paper technology and services for wide and fast machines and rebuilds, together with PMP’s product portfolio, competence and presence in strategic markets, will create new business opportunities. From now on we will work as one team with a wider product offering, to further strengthen our capabilities to serve paper, board and tissue producers globally. 

Jari Vähäpesola, Business Line President, Paper business line, Valmet
October 15, 2020

Key information about the acquisition

Net sales in 2019

EUR ~70 million

Number of employees

~650

Value of acquisition

EUR ~64 million1

 

1)plus a conditional and capped earn-out component

 

More information:

Valmet Oyj`s press release on October 15, 2020

Valmet Oyj’s press release on September 11, 2020

Updated; Jan 8, 2021