It was announced today that EAM Corporation, a portfolio company of Kinderhook Industries and a developer and manufacturer of absorbent products, has been sold to strategic buyer Domtar Corporation.
EAM is a developer and manufacturer of absorbent products. The company has two proprietary products, NovaThin and NovaZorb, that serve customers in the feminine hygiene, adult incontinence, food packaging, medical, pet care and diaper markets. The company is based in Jesup, GA (www.eam-corp.com).
Domtar designs, manufactures, markets and distributes a variety of fiber-based products including communication papers, specialty and packaging papers and adult incontinence products. The company is based in Montreal, Canada (www.domtar.com).
Kinderhook Industries is a manager of private equity funds with $770 million of committed capital. Kinderhook primarily makes control investments in companies with transaction values of $25 million to $100 million in which the firm can achieve financial, operational and growth improvements. Kinderhook pursue private equity investments in non-core divisions of public companies, management buyouts of entrepreneurial-owned businesses, troubled situations and existing small capitalization companies lacking institutional support. The firm is located in New York, NY (www.kinderhook.com).
Harris Williams & Co. acted as the exclusive advisor to EAM. The transaction was led by Derek Lewis, Darwin Olympia and Marshall Croft from the firm’s Richmond office. “EAM has built a strong reputation through its technical expertise, manufacturing excellence and culture of innovation. We are proud to have represented EAM and Kinderhook in this transaction and are confident that EAM will enhance Domtar’s growth and competitive position,” said Mr. Lewis, a managing director at Harris Williams & Co.