M&A Deal Summary

American Industrial Partners Acquires International Paper - Global Cellulose Fibers division

On August 21, 2025, private equity firm American Industrial Partners acquired packaging company International Paper - Global Cellulose Fibers division from International Paper

Acquisition Highlights
  • This is American Industrial Partners’ 1st transaction in the Packaging sector.
  • This is American Industrial Partners’ 47th transaction in the United States.
  • This is American Industrial Partners’ 3rd transaction in Tennessee.

M&A Deal Summary

Date 2025-08-21
Target International Paper - Global Cellulose Fibers division
Sector Packaging
Buyer(s) American Industrial Partners
Sellers(s) International Paper
Deal Type Divestiture

Target

International Paper - Global Cellulose Fibers division

Memphis, Tennessee, United States
International Paper's Global Cellulose Fibers division is a producer of high-quality absorbent fluff pulp for a wide range of personal care applications, including feminine care, incontinence, infant diapers, and other products that promote health and wellness. International Paper's Global Cellulose Fibers division is based in Memphis, Tennessee.

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Buyer(S) 1

Buyer

American Industrial Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

American Industrial Partners is a private equity firm focused on investments in North American manufacturing or industrial service companies. For platform acquisitions, the Firm seeks businesses with at least $500 million of revenue and the Firm will consider transactions valued up to $2 billion. Operating characteristics of prospective businesses include historical record of strong free cash flows, opportunities to drive value through operating enhancements, and sustainable competitive advantages. American Industrial Partners will consider a variety of transaction types including leveraged buyouts, structured equity investments, bridge financings, senior debt, carve-outs, take privates, turnarounds, and rescue financings. American Industrial Partners was formed in 1989 and is based in New York City.


DEAL STATS #
Overall 55 of 55
Sector: Packaging M&A 1 of 1
Type: Divestiture M&A Deals 21 of 21
State: Tennessee M&A 3 of 3
Country: United States M&A 47 of 47
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-21 Form Technologies

Charlotte, North Carolina, United States

Form Technologies is a producer of precision-engineered components with complex geometries and tight tolerances. Utilizing proprietary processes and engineering expertise, the company manufactures over five billion high-precision components annually, serving diverse end markets worldwide. Form Technologies was founded in 2018 and is based in Charlotte, North Carolina.

Sell $304M

Seller(S) 1

SELLER

International Paper

Memphis, Tennessee, United States

Category Company
Founded 1898
Sector Packaging
Employees37,000
Revenue 18.6B USD (2024)
DESCRIPTION
International Paper's corporate headquarters in Memphis, Tennessee.
International Paper's corporate headquarters in Memphis, Tennessee.

International Paper is a multinational company operating in the packaging and paper industry. International Paper provides sustainable packaging, pulp, and paper products and serves a diverse range of customers, including manufacturers, retailers, and consumers. International Paper was founded in 1898 and is based in Memphis, Tennessee.


DEAL STATS #
Overall 14 of 15
Sector: Packaging M&A 8 of 9
Type: Divestiture M&A Deals 11 of 12
State: Tennessee M&A 5 of 6
Country: United States M&A 8 of 9
Year: 2025 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-01 International Paper - Five European Plants

France

International Paper's Five European Plants include (i) three plants in Normandy, France (namely, one box plant in Saint-Amand, one box plant in Mortagne, and one sheet plant in Cabourg); (ii) one box plant in Ovar, Portugal; and (iii) one box plant in Bilbao, Spain.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-17 International Paper’s Bag Converting Operations

Memphis, Tennessee, United States

International Paper’s Bag Converting Operations delivers customized bag solutions for the grocery, convenience store, and quick-service restaurant markets.

Sell -