Sylvamo, the Memphis-based uncoated paper maker, has agreed a put option with Midas Atlantic Partners and The Najafi Companies for a binding offer for its European business, including mills in Saillat, France, and Nymölla, Sweden, the company said on 6 November 2026.
Why Midas Atlantic Partners (with The Najafi Companies) is buying Sylvamo's Europe business (Saillat and Nymölla mills)
Sylvamo said the sale would make it a more focused company with greater ability to invest in its business, and would give the European operations an owner experienced in corporate carve-outs.
“We believe this potential transaction represents an important strategic step for our Europe business and Sylvamo.”
Deal terms and financing
Once works-council consultations are complete, the parties expect to sign a share purchase agreement transferring the business with an agreed level of working capital and cash. In exchange Sylvamo would receive the right to 20% of future distributions. No cash purchase price was disclosed.
Regulatory approvals and timing
Sylvamo will consult works councils and employee representatives under local law before any final decision. Closing is expected by the end of the first quarter of 2027, subject to those processes, regulatory approvals and other conditions.
Market context
Midas Atlantic is a private equity group investing in corporate carve-outs and special situations without fund-life constraints; The Najafi Companies, founded by Jahm Najafi in 2002, is its principal investment partner. Sylvamo, which has mills in Europe, Latin America and North America, had 2025 net sales of US$3.4bn.
