Leading Specialty Papers Provider Invests to Expand Product Portfolio
Pixelle Specialty Solutions LLC (“Pixelle”) today announced the completion of two strategic investments that will further strengthen its portfolio and improve service for new and existing customers. On March 31, Pixelle acquired the Rollsource specialty paper business from Veritiv Corporation. On April 5, Pixelle acquired the carbonless roll and security paper business unit of Appvion Operations Inc.
The Rollsource acquisition includes the portfolio of the business, which primarily serves the forms printing market, and includes the conversion of facilities in Pittsburg, Kansas. Pixelle will retain key Rollsource employees to ensure continuity in operations, sales and customer service.
The acquisition of Appvion’s carbonless roll and security papers business will allow Pixelle to serve new customers with the Pixelle portfolio that includes ExcelOne® and Trans / Rite® carbonless papers and the wide range of security products from Defense®. Production assets are not included in the transaction. Building on decades of experience producing carbonless products, Pixelle will manufacture carbonless products for previous Appvion customers at its specialty products bin in Chillicothe, Ohio.
Timothy Hess, CEO of Pixelle, commented on the investments: “The addition of carbonless paper rolls, security papers and related products together with a team of talented professionals from Rollsource allows Pixelle to continue to expand its portfolio of specialty products. These investments reinforce Pixelle’s commitment to providing best-of-breed products for our customers. “
Pixelle was formed in 2018 by Lindsay Goldberg, a private investment firm that partners with business founders, families, and management teams to actively develop their businesses. Pixelle developed an industry leading specialty papers platform with paper mills in Chillicothe, Ohio; Jay, Maine; Spring Grove, Pennsylvania and Stevens Point, Wisconsin. Collectively, the paper mills operate 11 paper machines and produce more than one million tons of paper per year.
Steven Klinger, an affiliate partner of Lindsay Goldberg and CEO of Pixelle, along with his management team, has more than 150 years of combined experience building high-performing paper businesses. Regarding the announcement, Klinger commented: “One of the key components of Pixelle’s strategy is to take actions that have customers perceive Pixelle as an active and valuable partner in the development of customers’ businesses. Doing that well has made Pixelle the market leader it is today and enabled it to make acquisitions like this one. Pixelle is a great example of how we actively invest, partner and do business. “
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