Neenah Paper, Inc. has completed purchase of the outstanding equity of W.A. Sanders Coldenhove Holding B.V., as the company said in the press release received by Lesprom Network.
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 2%.
Coldenhove is a specialty materials manufacturer based in the Netherlands, with a leading position in digital transfer media and other technical products.
Neenah Paper, Inc. 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.
