M&A Deal Summary

Neenah Acquires Crane Technical Materials

On June 5, 2014, Neenah acquired forest products company Crane Technical Materials from Crane Currency for 72M USD

Acquisition Highlights
  • This is Neenah’s 3rd transaction in the Forest Products sector.
  • This is Neenah’s 4th largest (disclosed) transaction.
  • This is Neenah’s 3rd transaction in the United States.
  • This is Neenah’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2014-06-05
Target Crane Technical Materials
Sector Forest Products
Buyer(s) Neenah
Sellers(s) Crane Currency
Deal Type Divestiture
Deal Value 72M USD

Target

Crane Technical Materials

Dalton, Massachusetts, United States
Crane Technical Materials, Inc. is a manufacturer of performance-oriented nonwoven materials constructed from glass, polymer, and natural fibers. Crane Technical Materials, Inc. is based in Dalton, Massachusetts.

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Buyer(S) 1

Buyer

Neenah

Alpharetta, Georgia, United States

Category Company
Founded 2004
Sector Forest Products
Employees2,493
Revenue 1.0B USD (2021)
DESCRIPTION
Entrance to Neenah Paper's corporate headquarters in Alpharetta, Georgia.
Entrance to Neenah Paper's corporate headquarters in Alpharetta, Georgia.

Neenah is a specialty materials company specialized in performance substrates used for tapes, labels, and other products, and premium printing and packaging papers. Neenah is organized into two primary businesses: a specialty, performance-based, technical products business and a premium fine papers business. The Company's technical products business is an international producer of transportation and other filter media and durable, saturated, and coated substrates for industrial products backings and a variety of other end markets. Neenah's technical products manufacturing facilities are located in Munising, Michigan, near Munich and Frankfurt, Germany. Neenah's fine paper business is a supplier of premium writing, text and cover papers, bright papers, and specialty papers in North America. Neenah's premium writing, text, cover, and specialty papers are used in commercial printing and imaging applications for corporate identity packages, invitations, personal stationery, and corporate annual reports, as well as premium labels and luxury packaging. Neenah was founded in 2004 and is based in Alpharetta, Georgia.


DEAL STATS #
Overall 3 of 7
Sector (Forest Products) 3 of 5
Type (Divestiture) 3 of 3
State (Massachusetts) 1 of 2
Country (United States) 3 of 5
Year (2014) 1 of 1
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-31 Southworth - Premium Business Paper Brands

United States

Southworth Company's Premium Business Paper Brands business sells premium paper products to major retail customers such as Staples, Office Depot, Office Max and Walmart.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-20 Fibermark

West Springfield, Massachusetts, United States

Fibermark, Inc. is a coating and finishing paper company specializes in luxury packaging and overlapping technical product categories. Fibermark, Inc. is based in West Springfield, Massachusetts.

Buy $120M

Seller(S) 1

SELLER

Crane Currency

Dalton, Massachusetts, United States

Category Company
Founded 1801
Sector Forest Products
Employees2,300
DESCRIPTION

Crane & Co., Inc. is a provider of an advanced micro-optic security technology, and a fully integrated supplier of secure and highly engineered banknotes for central banks all over the world. Crane & Co was founded in 1801 and is based in Dalton, Massachusetts.


DEAL STATS #
Overall 1 of 1
Sector (Forest Products) 1 of 1
Type (Divestiture) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-02 Visual Physics

Alpharetta, Georgia, United States

Visual Physics, Inc. manufactures and supplies micro-optic security films used for anti-counterfeiting and brand protection applications. The company was incorporated in 1999 and is based in Alpharetta, Georgia.

Buy -