Neenah Paper has sold Neenah Lahnstein

Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Alpharetta, Georgia-based Neenah Paper, Inc. (NP:NYSE; “Neenah”) has divested its wholly owned German subsidiary, Neenah Lahnstein GmbH (“Lahnstein”), a manufacturer of specialty paper and wet-laid nonwovens, to an acquisition vehicle of Kajo Neukirchen Group, a family-owned private investor group for medium-sized companies in Europe, located near Frankfurt am Main.

Founded in 1911 and with revenues of about Euro 50 million, Neenah’s Lahnstein mill — now trading as Lahnpaper GmbH (“Lahnpaper”) — operates out of one production facility near Koblenz, Germany, and employs a staff of approximately 200. The company specializes in high-quality specialty paper and wet-laid nonwovens for applications such as security documents, weatherproof outdoor advertising and quality wallcoverings. The business serves clients both in Germany and throughout Europe.

Kajo Neukirchen, the owner and managing director of Kajo Neukirchen Group, and Dr. Michael Bauer, the new CFO of Kajo Neukirchen Group and a future board member of Lahnpaper, said, “We are convinced that we can provide a good home for the Lahnstein mill as a separate, medium-sized company to thrive and fully focus on its strength as a reliable supplier of high-quality products to a number of growing niche applications for the digital age, as well as paper-based products for the security document markets.”

Detlef Stoltefaut, the CEO of Lahnpaper, said, “The competence and long-term determination of our new owner opens new pathways for us. We are all excited about the future prospects and very much look forward to this cooperation.”

Lincoln was hired by Neenah to manage the sale process for the Lahnstein mill and acted as the exclusive financial advisor to Neenah. “Lincoln worked with us to develop comprehensive and professional marketing materials and conducted an effective outreach campaign. They provided disciplined execution and thoughtful insight throughout the process and helped ensure we found a good buyer for the Lahnstein mill and its employees,” said Bill McCarthy, Vice President of Financial Planning and Analysis and Investor Relations with Neenah.

About Neenah Paper, Inc.
Neenah is a leading 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 tapes, labels and other products, and premium printing and packaging papers. The company is headquartered in Alpharetta, Georgia, and its products are sold in over 80 countries worldwide from manufacturing operations in the U.S., Germany and the U.K. For more information, please visit www.neenah.com.

About Kajo Neukirchen Group
Kajo Neukirchen Group is a family-controlled business based in Frankfurt am Main, Germany, specializing in the acquisition of medium-sized private companies and corporate divestitures. The group is a long-term investor with in-depth industrial expertise and strong determination to realize long-term appreciation in value while maintaining the corporate identities of its group companies. Kajo Neukirchen believes that sustainable investments, customer orientation and corporate social responsibility are important guiding principles for continued corporate success, which forms the base of its corporate group vision. Group management works trustfully with the management teams of its group companies and does not interfere with daily business. For more information, please visit www.kaneco.de.

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