Mayr Melnhof Holz (MM-Holz) put pen to paper on a contract that will see it acquire the Swedish sawmill group Bergkvist Siljan on 17 December. European Special Situations Venture Partners IV (ESSVP IV) is the seller. Orlando Nordics advised MM-Holz on the transaction, which is expected to close in the first quarter, subject to approval from competition authorities. The parties agreed not to disclose details of the purchase price.
The acquisition marks MM-Holz’s first foray into the Scandinavian market and increases its sawmilling capacity to around 5.0m m³ per year. MM-Holz’s full-year revenues are expected to top €1bn following the deal.
MM-Holz has previously made multiple attempts to grow through acquisitions in the past two years. MM-Holz was outbid by Binderholz twice in Chapter 11 auctions for Klausner Lumber One and Klausner Lumber Two. MM-Holz’s last major acquisition saw it buy two glulam producers Hüttemann Holz and Hüttemann Wismar in 2018, which have a combined annual capacity of just under 200,000 m³ of glulam.