Neenah Agrees to Acquire Vectorply for $155 Million
With annual sales of over $70 million, Vectorply is a leader in the manufacture of high-performance composite materials used in a variety of growing end markets.
两人做人爱费视频 视频March 4, 2020 - Neenah on March 3 announced the signing of a definitive agreement to acquire Vectorply Corporation, a portfolio company of MSouth Equity Partners, for $155 million in cash.
Closing is expected to occur on April 1, and is subject to customary conditions.
With annual sales of over $70 million, Vectorply is a leader in the manufacture of high-performance composite materials used in a variety of growing end markets. The company is focused in North America, with its customers and supply chain predominantly in the United States, and operates out of one manufacturing facility in the Southeast.
两人做人爱费视频 视频"Vectorply is well-known for its product capabilities, utilizing product-enhancing fibers such as carbon, glass and aramid to produce purpose-built, non-woven reinforcement fabrics," said John O'Donnell, CEO of Neenah. "The acquisition broadens our technical products platform, adding new capabilities that will further accelerate our ability to grow in existing, as well as new end markets.
"Financially, this investment is an attractive use of capital, with a double-digit rate of return, and it will be immediately accretive to our margins and our earnings," O'Donnell concluded.
Excluding one-time costs, the transaction is expected to be accretive to earnings in year one, with annualized accretion of over $0.25 per share. One-time acquisition and integration costs in 2020 are projected to be less than $2 million.
The acquisition is expected to be financed primarily through borrowing currently available against Neenah's existing revolving credit facility, along with other funding as necessary.
Headquartered in Alpharetta, Georgia, Neenah is a leading global specialty materials company. Key products and markets include advanced filtration media, specialized performance substrates used for digital transfer, tape and abrasive backings, labels and other products, and premium printing and packaging papers. For further information, visit: www.neenah.com.
SOURCE: Neenah, Inc.