Mativ Holdings Announces Proposed Sale of its Engineered Papers Business for $620 Million

King & Spalding advised Mativ Holdings, a global leader in specialty materials, on the $620 million proposed sale of its Engineered Papers business to Evergreen Hill. The transaction is subject to a required employee consultation process with its French works councils and is expected to close in Q4 after obtaining customary regulatory approvals. Mativ is a global leader in specialty materials headquartered in Alpharetta, Georgia. The Company’s two operating segments, Advanced Technical Materials and Fiber-Based Solutions, target premium applications across diversified and growing end-markets, from filtration to healthcare to sustainable packaging. Evergreen Hill, an affiliate of BMJ, is based in Singapore and is part of a successful, Indonesian-based privately held group of diversified companies serving a wide variety of industries, such as banking, tobacco, consumer electronics, telecommunications, fast moving consumer goods, e-commerce, plantation, hotels & real estate, and many others. A press release announcing the transaction can be found here.