Key Takeaways
- • Saothair Capital completed the acquisition of EAM Corp. from Domtar Corporation, expanding its portfolio in absorbent materials manufacturing with a company generating revenue from feminine hygiene, adult incontinence, baby diaper, medical, industrial, and food packaging end markets.
- • EAM, founded in 1998 and based in Georgia, manufactures nonwoven airlaid and laminated absorbent materials with three proprietary branded platforms developed through decades of co-development with leading consumer hygiene brands.
- • Saothair, a Wayne, Pennsylvania-based PE firm founded in 2019 by former KPS Capital Partners executives Kevin Madden and Richard Lozyniak, closed its second fund at $300 million in July 2025, providing capital for this middle-market industrial acquisition.
- • Leadership transitions include Vanecia Carr (promoted from General Manager to CEO), Lori Venn (named SVP Sales and Marketing), and Michael Fagan (joining the board), signaling continuity while implementing governance changes typical of PE ownership transitions.
- • Legal advisors included McGuireWoods for Saothair, while BMO Capital Markets and Troutman Pepper Locke represented Domtar in the transaction.
Summary
Saothair Capital has completed its acquisition of EAM Corp. from Domtar Corporation, marking a strategic entry into the nonwoven absorbent materials sector. EAM, founded in 1998 and headquartered in Georgia, is a specialized manufacturer of airlaid and laminated absorbent products serving multiple end markets including feminine hygiene, adult incontinence, baby diapers, medical applications, industrial uses, and food packaging. The company's competitive position rests on three proprietary branded platforms developed through extended co-development partnerships with major consumer hygiene brands, providing structural barriers to entry and customer stickiness.
Saothair Capital, based in Wayne, Pennsylvania, was founded in 2019 by Kevin Madden and Richard Lozyniak, both former executives at KPS Capital Partners. The firm focuses on middle-market manufacturing and industrial investments and closed its second fund at $300 million in July 2025. This acquisition represents a deployment of that capital into a sector with stable, recurring demand driven by demographic trends and essential-use applications across hygiene and medical segments.
The transaction includes a management continuity element paired with governance enhancements. Vanecia Carr, EAM's former General Manager, has been promoted to CEO, while Lori Venn assumes the role of SVP Sales and Marketing. Michael Fagan has joined the board of directors, suggesting Saothair's intent to balance operational continuity with active board oversight and strategic guidance typical of institutional PE ownership. Domtar Corporation, the seller, is a privately held forest products company owned by Paper Excellence, and was advised by BMO Capital Markets and Troutman Pepper Locke. McGuireWoods provided legal counsel to Saothair in the transaction.
Saothair Capital, based in Wayne, Pennsylvania, was founded in 2019 by Kevin Madden and Richard Lozyniak, both former executives at KPS Capital Partners. The firm focuses on middle-market manufacturing and industrial investments and closed its second fund at $300 million in July 2025. This acquisition represents a deployment of that capital into a sector with stable, recurring demand driven by demographic trends and essential-use applications across hygiene and medical segments.
The transaction includes a management continuity element paired with governance enhancements. Vanecia Carr, EAM's former General Manager, has been promoted to CEO, while Lori Venn assumes the role of SVP Sales and Marketing. Michael Fagan has joined the board of directors, suggesting Saothair's intent to balance operational continuity with active board oversight and strategic guidance typical of institutional PE ownership. Domtar Corporation, the seller, is a privately held forest products company owned by Paper Excellence, and was advised by BMO Capital Markets and Troutman Pepper Locke. McGuireWoods provided legal counsel to Saothair in the transaction.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.