Fedrigoni S.p.A. made an offer to acquire Arjo Wiggins Ltda. from Sequana S.A. (DB:WM41) for an enterprise value of €85 million on April 28, 2015. Fedrigoni will pay an additional earn-out of up to €5 million based on performance criteria and is payable in 2016.

In 2014, Arjo Wiggins reported revenues of around €70 million. Evercore Partners Inc. acted as financial advisor to Sequana. The transaction should be finalized by the end of May 2015.