Neenah Completes Purchase of Coldenhove
Print this Article | Send to Colleague
Neenah Paper Inc., Alpharetta, Ga., USA, this week announced that it has completed the previously announced purchase of the outstanding equity of W.A. Sanders Coldenhove Holding B.V. Coldenhove is a specialty materials manufacturer based in the Netherlands, with a leading position in digital transfer media and other technical products.
Upon closing, the company made a cash payment of approximately $45 million. The payment was financed through almost $14 million of available cash on hand, with the balance from incremental borrowing against the company's existing global revolving credit facility. Interest rates on the additional short term debt were under two percent.
Neenah is a global specialty materials company, focused on premium niche markets that value performance and image. Key products and markets include advanced filtration media, specialized performance substrates used for tapes, labels, and other products, and premium printing and packaging papers.
