Neenah Paper to acquire Coldenhove



Neenah Paper to acquire Coldenhove | Neenah, acquisition,

ALPHARETTA, Georgia -- Neenah Paper, Inc. announced it had signed a definitive agreement to purchase all 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.

Coldenhove has annual sales of over $45 million with EBITDA of approximately $6 million. The company's advanced media is a critical component used in dye sublimation, a growing method of digital image transfer. The purchase price is expected to be approximately $45 million, subject to final closing adjustments, and will be financed with available cash and short term borrowings. Closing is expected to occur on November 1, and is subject to customary conditions.

"This acquisition adds to our technical products portfolio with products, technologies and a customer base that nicely complement our existing digital transfer business, further accelerating our participation in profitable growing markets," said John O'Donnell, Chief Executive Officer. "From a financial perspective, the investment provides an attractive return on capital, is immediately accretive, and will deliver mid-teen EBITDA margins in a growing market."

****

Jim Thompson is back again...with a new book on a taboo subject: the personalities in the pulp & paper industry. Jim has written in the past on many subjects based on his four plus decades in the worldwide pulp and paper industry. This new book is packed full of information valuable to the senior member of the industry as well as the recent entrant. A must for every pulp and paper library.