Kajo Neukirchen Group to Acquire Neenah Lahnstein in Germany
Sept. 16, 2015 - Privately owned Kajo Neukirchen group will acquire paper and nonwovens specialist Neenah Lahnstein GmbH. Subject to regulatory approval, the transaction is expected to close later this year.
Neenah Lahnstein based in Lahnstein, Germany near Koblenz has about 200 employees and a turnover slighlty above EUR 50 million.
"The aim of the takeover is to align the company together with management and employees consistently on premium, innovative products for industrial users, for example, in construction or in the media industry," says Dr. Kajo Neukirchen, managing director of Kajo Neukirchen group. "We are convinced that Neenah Lahnstein with our experience can grow more strongly and be more profitable in the management of medium-sized industrial enterprises."
Detlef Stoltefaut, CEO of Neenah Lahnstein, says, "The competence of our future owner opens novel perspectives We look forward to this cooperation."
Neenah Lahnstein, founded in 1911, specializes in high-quality specialty papers and nonwovens for applications including secure documents that will be exposed to the weather in outdoor advertising or in high-quality wall coverings. The company serves clients both in Germany and throughout Europe.
"The high-quality papers and nonwovens of Neenah Lahnstein are found in markets that are growing in the digital age," says Dr. Michael Bauer, the new CFO of Kajo Neukirchen group and a future board member at Neenah Lahnstein. "There are no overlaps with our investment portfolio so we do not expect any competition problems in the acquisition."
The Kajo Neukirchen Group is a family business based in Eschborn, Germany near Frankfurt, which specializes in major holdings in German medium-sized companies in the capital goods industry. The aim of the investment is long-term capital appreciation while maintaining the corporate identity of the companies acquired.