American Industrial Partners completed the acquisition of personal care business of Domtar for $920m.

American Industrial Partners, a private equity firm, completed the acquisition of personal care business of Domtar, a provider of a wide variety of fiber-based products including communication, specialty and packaging papers, for $920m. “This transaction represents a milestone in Domtar’s ongoing portfolio transformation and further advances our strategic initiatives that will position Domtar for a sustainable and successful future. We conducted a thorough review of strategic alternatives for Personal Care and believe the sale maximizes value to Domtar shareholders by allowing us to strengthen our balance sheet, enhance liquidity and buy back shares. We are confident that AIP is the right owner to advance the business and look forward to working with them to execute a smooth and successful transition for the customers and employees of Personal Care," John D. Williams, Domtar President and CEO.