Neenah Paper, Inc. announced that it had completed the purchase of the outstanding equity of W.A. Sanders Coldenhove Holding B.V. Coldenhove is a specialty materials manufacturer based in the Netherlands, with a leading position in digital transfer media and other technical products.

Upon closing, the company made a cash payment of approximately $45 million. The payment was financed through almost $14 million of available cash on hand, with the balance from incremental borrowing against the company’s existing global revolving credit facility. Interest rates on the additional short term debt were under 2%.