Vectorply announces acquisition by Neenah
Vectorply Corporation, a portfolio company of MSouth Equity Partners, announced that it has signed a definitive agreement with Neenah, Inc., under which Neenah will acquire Vectorply for $155 million in cash. Closing is expected to occur on April 1 and is subject to customary conditions.
Vectorply is a leader in the development, manufacturing and distribution of composite reinforcement fabrics engineered to optimize the stiffness, strength, weight and cost of customer-specific applications. The company produces more than 350 unique styles of fabrics for an unlimited number of composite applications. Fibers such as E-glass, carbon, aramid are stitch-bonded in a variety of weights and architectures to help customers achieve their goals with optimized laminates.
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 digital transfer, tape and abrasive backings, labels and other products, and premium printing and packaging papers. This acquisition expands Neenah’s technical products platform into the rapidly growing advanced composites industry and is expected to be immediately accretive to its margins and earnings.
Vectorply President Trevor Humphrey commented:
“We are very excited about becoming part of the Neenah family of companies. Vectorply’s composite business will be a strong complement to Neenah’s other specialty materials businesses. Our Vectorply team appreciates Neenah’s commitment to growth and innovation, and we look forward to working together in the future.”
Brookwood Associates acted as financial advisor to Vectorply Corporation, and Eversheds Sutherland LLP served as Vectorply Corporation’s legal advisors.
