Management completes secondary buyout of Nopco Paper Technology with the assistance of Glitnir Total Capital

Norway, 18 May 2007. Glitnir, together with the five-man strong management team of Nopco Paper Technology AS, have acquired the Drammen-based specialty chemicals company in a secondary buyout from previous majority owners, Nordic Capital Fund III. The deal value is undisclosed, but in 2006 the company had revenues of NOK500 million (€60 million) and 120 employees worldwide.

Nopco Paper Technology is a focused developer and manufacturer of specialty chemicals to various applications in the pulp and paper manufacturing process. The Nopco Group is present in the Nordic countries, Germany, France, Spain, UK, Eastern Europe and Asia. The head office is in Drammen, Norway with production units in Norway, Finland and Spain. Nopco Paper Technology's business idea is to develop and produce tailor-made solutions to the pulp and paper industry, especially focusing on silicones. Nopco Paper Technology is a market leader in pulp and recycling applications.

The deal was completed thanks to Glitnir's ability to pull in senior resources from offices in Copenhagen, Reykjavik and London, assisted by a team of advisors from M&A International Inc.

Stein Andersson, Chief Executive Officer, Nopco Paper Technology, said: “We look forward to working with Glitnir to expand our position on specialty chemicals for the paper and pulp industries. With the help of Glitnir's strong position in the financial markets, we'll be able to expand our business further through new acquisitions, launching new products and targeting new geographic markets.”

Nikolaj W. Galskjot, Executive Director at Glitnir Total Capital, commented: “We are extremely excited about this opportunity to work with a strong management team and to take this company through to the next phase of its development. In addition to existing strong relationships and product pipeline in the traditional pulp and paper industry, the company has recently developed interesting and innovative products, which we expect will further accelerate growth. At Glitnir Total Capital we realize our success is primarily dependent on management. We are therefore very pleased to act as the catalyst for this management buyout.”

Glitnir was advised by a team led by the Norwegian M&A International Inc. member Bridgehead.

For further information, please contact:
M&A International Inc. Press and Media Relations
Aylin Ugurlu
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