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A cross-practice team from international law firm Bryan Cave Leighton Paisner advised long-standing client Neenah, Inc. on an agreement and plan of merger with Schweitzer-Mauduit International, Inc. (SWM), which was signed March 28. 

The two leading global manufacturers of specialty materials have agreed to combine in an all-stock merger of equals with combined revenues of approximately $3 billion.

The combined company will be 58% owned by legacy SWM stockholders and 42% owned by legacy Neenah stockholders, with Julie Schertell, Neenah’s CEO, continuing as CEO of the combined company.

The deal is expected to close in the second half of 2022 and is subject to shareholder approval, regulatory signoff and customary closing conditions.

The deal team was led by Partners Terry Childers, Rick Miller and Eliot Robinson (Corporate Transactions), and Partner Rob Lewinson (Commercial Lending), with Counsel Lindsay Cross, Associates Jonathan Pruitt and Olivia Hunter, and Paralegal Andrea Legette-Toovey (Corporate). Further assistance was provided by Partner Jonny Morris (UK Corporate), Counsel Gretchen von Dwingelo and Associate Joe Babitz (Commercial Lending), Partners Frank Crisafi and Jessica Edwards (Tax Advice & Controversy), Partners Adam Braun and Rick Arenburg, Associate Steve Evans and Of Counsel Paul Concannon (Employee Benefits & Executive Compensation), Partner Becky Nelson, Counsel Paul Barrs and Senior Associate Paul Culliford (Antitrust), Partner Eric Schroeder and Counsel Damon Whitaker (Technology & IP Disputes), Partner John Bielema and Counsel Mike Carey (Class Action & Mass Torts), Partner Ken Achenbach and Associate Aaron Lapniewski (Insurance), Partner Christian Auty (Data Privacy), Partners Marilyn Fish and Anthony George (Labor and Employment), Partners Susan Kovarovics and Mark Srere (Foreign Compliance), and Partner Steve Poplawski (Environmental).

The transaction has generated considerable media attention, including by Law360 and The Deal (subscriptions may be required).  Click here to read the full press release issued by Neenah on this transaction.


This document provides a general summary and is for information/educational purposes only. It is not intended to be comprehensive, nor does it constitute legal advice. Specific legal advice should always be sought before taking or refraining from taking any action.