Neenah Inc. is terminating a $155 million deal to acquire an Alabama composite reinforcement fabrics company in Alabama.
Alpharetta-based specialty materials company Neenah had announced plans last month to acquire Vectorply Corp., a portfolio company of MSouth Equity Partners, on April 1 for $155 million in cash.
But in an April 2 statement, the company announced it had not closed on the agreement as originally planned.
CEO John O’Donnell said, “Regarding our ongoing business during this challenging…
Atlanta Business Journal
Neenah Inc. terminates 5M acquisition deal for Alabama fabric maker