Ahlstrom Capital makes strategic investment in Bast Fibre Technologies
Torys acted as Canadian counsel to Ahlstrom Capital with a team that included Michael Amm, Daniel Masliyah and Kirsten Hentschel (corporate/M&A).
On October 12, 2022, Ahlstrom Capital Group (“Ahlstrom Capital”) announced that it signed an agreement to acquire 20% of Bast Fibre Technologies Inc. (BFT), a manufacturer of 100% plant-based, intact natural fibres with the technical and performance requirements for a wide variety of nonwoven applications.
Bast Fibre will use the capital from the investment to begin work to expand fibre manufacturing capacity at its US-flagship facility in Lumberton in North Carolina) and its EU-facility near Düsseldorf in North Rhine-Westphalia, with the goal of creating the world’s largest specialty bast fibre processing and purification company.
Further information can be found on Ahlström Capital’s website and on newswire.ca.
BFT is a triple-bottom-line cleantech fibre engineering firm that places equal emphasis on social, environmental, and fiscal responsibility. It uses advanced fibre processing technology to transform raw fibres from cotton, hemp, and flax plants to meet the exacting standards required by nonwoven customers.
Ahlstrom Capital is one of Finland's largest investment companies with a long 170 year history. The family-owned investment company creates value for its owners by investing in industrial companies, real estate and forestry. In 2021, the annual net sales of its portfolio companies was approximately €4.4 billion and they employed almost 13,500 people in 33 countries.