Neenah Paper, Inc. 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 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.
Neenah is a leading global specialty materials company. Key products and markets include advanced filtration media, specialized performance substrates used for tapes, labels and other products, and premium printing and packaging papers.