Pixelle Specialty Solutions, a manufacturer of specialty papers in North America, has signed a definitive agreement to acquire the carbonless rolls and security papers business of Appvion Operations.
The transaction is expected to close in April 2021 and will not include any Appvion production assets. Carbonless rolls formerly manufactured by Appvion will be manufactured by the Pixelle specialty papers mill in Chillicothe, OH, and security papers formerly manufactured by Appvion will be manufactured by Pixelle or Pixelle supply partners.
Commenting on the acquisition, Pixelle’s CEO Timothy Hess said, ‘As a leader in specialty solutions, Pixelle is well-positioned to incorporate this product portfolio into our business. Pixelle welcomes the opportunity to serve these customers, who we believe will benefit from our experience in providing these technically demanding grades.’
The acquisition expands the Pixelle product portfolio by building on Pixelle’s established brands of carbonless papers (ExcelOne and Trans/Rite ) and adding DocuCheck and DocuMark security papers to Pixelle’s existing brand Defensa.
Pixelle was formed in 2018 by Lindsay Goldberg, a private investment firm that partners with business founders, families, and management teams to build their businesses. In its two-year history, Pixelle has built a four-mill specialty paper platform with mills in Ohio, Maine, Pennsylvania, and Wisconsin.