American Industrial Partners $1.5 billion acquisition of Global Cellulose Fibers
We are advising American Industrial Partners on the transaction
Davis Polk is advising American Industrial Partners (AIP) on its acquisition of the Global Cellulose Fibers (GCF) division of International Paper, at a total enterprise value of $1.5 billion. The transaction is subject to customary closing conditions, including the receipt of required regulatory approvals, and is expected to close in the fourth quarter of 2025.
American Industrial Partners is a global industrials investor, with approximately $17 billion in assets under management. AIP is distinctively focused on industrial businesses across a broad range of end markets that include aerospace and defense, automotive, building products, capital goods, chemicals, industrial services, industrial technology, logistics, metals and mining, and transportation.
Global Cellulose Fibers operates seven pulp mills and two converting facilities that produce fluff pulp, softwood pulp and specialty pulp products for diverse consumer applications, including diapers, other hygiene products and tissue. GCF generates annual revenue of approximately $2 billion and employs approximately 3,300 people with manufacturing operations in Canada, Poland and the United States.
International Paper is the global leader in sustainable packaging solutions. With company headquarters in Memphis, Tennessee, and London, the company employs more than 65,000 team members and serves customers around the world with operations in more than 30 countries.
The Davis Polk corporate team includes partner John D. Amorosi, counsel Jack Gordge and associates Neil Bhatt and Will North. Partner Frank Azzopardi and associate Ted (Edward) Talas are providing intellectual property advice. Partner Travis Triano is providing executive compensation advice. Partner Brian D. Hirsch is providing real estate advice. Partner Kara L. Mungovan is providing tax advice. Counsel David A. Zilberberg is providing environmental advice. All members of the Davis Polk team are based in the New York office.