American Industrial Partners (“AIP”), a focused industrials investor, announced that an affiliate of AIP has completed its acquisition of the Global Cellulose Fibers (GCF) business of International Paper. GCF now operates as an independent company.

Headquartered in Memphis, TN, GCF is a leading global 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. The company generated approximately $2.3 billion of revenue in 2024 and has 3300 employees globally, with nine manufacturing facilities across the U.S., Canada and Poland. 

“We are pleased to officially welcome GCF to AIP and establish the company as a newly independent business,” says Rick Hoffman, partner at AIP. “GCF’s leading position in the global fluff pulp market, experienced workforce, well-invested facilities and strong customer relationships make it well-positioned for future growth. It has been a privilege to work alongside Clay Ellis and the rest of GCF’s talented and tenured management team during the carve-out from International Paper. We look forward to further implementing our combined Operating Agenda, rooted in our commitment to safety, quality, operational excellence, reliability and long-term value creation.” 

“Becoming an independent company marks an exciting new chapter for GCF, and we are proud to partner with AIP in this next phase,” says Clay Ellis, chief executive officer of Global Cellulose Fibers. “AIP’s long-term investment approach and deep operational expertise align well with our culture and priorities, and we remain focused on serving our customers, supporting our employees, and building on the strong foundation already in place.”