M&A Deal Summary

Neenah Acquires ITASA

On March 2, 2021, Neenah acquired manufacturer ITASA from Magnum Capital Industrial Partners for 205M EUR

Acquisition Highlights
  • This is Neenah’s 2nd transaction in the Manufacturing sector.
  • This is Neenah’s largest (disclosed) transaction.
  • This is Neenah’s 1st transaction in Spain.

M&A Deal Summary
Date 2021-03-02
Target ITASA
Sector Manufacturing
Buyer(s) Neenah
Sellers(s) Magnum Capital Industrial Partners
Deal Type Add-on Acquisition
Deal Value 205M EUR

Target

ITASA

Guipuzcoa, Spain
ITASA is a global coater and converter of release liners used in fast-growing hygiene, tapes, industrial, labels, composites and various other end markets.

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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 7 of 7
Sector (Manufacturing) 2 of 2
Type (Add-on Acquisition) 4 of 4
Country (Spain) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-03 Vectorply

Phenix City, Alabama, United States

Vectorply is a developer and manufacturer of high-performance reinforcement fabrics used in composite materials. Vectorply produces a broad range of non-crimp fabrics for use in wind power, industrial, marine, sports/recreation and transportation applications. Approximately 83% of the Company’s sales are derived from fabrics made of glass fibers, with the remainder divided between carbon and aramid fibers. Vectorply’s products provide superior materials solutions when compared to traditional materials (such as steel, wood and concrete) and to earlier generations of woven composite reinforcement fabrics.

Buy $155M

Seller(S) 1

SELLER

Magnum Capital Industrial Partners

Madrid, Spain

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
PE ASSETS 1.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Magnum Capital is a private equity firm focused on investing in upper middle-market companies located in Spain and Portugal. Magnum prefers control investments in the industrial and service sectors. The Firm's target investment size is €30 to €100 million in businesses valued from €150 to €800 million. Prospective investment situations include family-owned companies with potential for 'increased operating efficiencies', corporate spin-offs, shareholder liquidity needs, and Iberian companies looking to expand beyond the local area. Magnum Capital was formed in 2006 and has offices in Madrid and Lisbon.

DEAL STATS #
Overall 11 of 16
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 3 of 6
Country (Spain) 8 of 13
Year (2021) 1 of 3
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-01 Miranza

Madrid, Spain

Miranza operates a network of ophthalmology centers in Iberia to provide best-in-class eye care solutions to a broad range of eye conditions. The company started with the combination of five ophthalmology centers in Spain with quality standards and reputation. Miranza is based in Madrid, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-12 ISDE Law Business School

Madrid, Spain

ISDE Law Business School is a teaching institution formed by representatives of the main national and international firms met to discuss the creation of an academic institution, dedicated solely and exclusively to legal training at the highest level. ISDE Law Business School was formed in 1992 and is based in Madrid, Spain.

Buy -
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