Stahl sells wet-end chemicals to transform into pure specialty coatings company

Stahl, a supplier of specialty coatings for flexible materials, announced the sale of its wet-end leather chemicals business to Syntagma Capital, a Belgium-based private equity fund. The proposed sale completes Stahl’s transformation into a pure-play business in specialty coatings formulations for flexible materials.

Following Stahl’s recent acquisitions of packaging coatings businesses in North America and Europe, Stahl is now better positioned to capture future growth opportunities in sustainable coatings formulations. The divested wet-end leather chemicals business will include 428 employees, a full wet-end product portfolio and manufacturing facilities in Italy and India. The proposed transaction is subject to customary closing conditions, including information and consultation from the unions and other regulatory approvals.

Stahl has successfully expanded its product portfolio from leather to a wide range of flexible coatings. The divestiture of the wet-end leather business enables Stahl to focus on its core technologies in specialty coatings for flexible materials. Maarten Heijbroek, CEO of Stahl, said: “In recent years, Stahl has made a strategic shift towards high-end coatings to establish itself as a market leader in coatings for flexible materials. The divestiture of wet-end leather chemicals completes this transformation. Stahl is now a pure-play coatings formulator, which will enable us to accelerate innovation and sustainability to enhance the consumer experience and deliver on our purpose: ‘Touching lives for a better world’.

“At the same time, we are accelerating our growth investments with a new manufacturing plant in Singapore, doubling our production capacity in China and investing in new centers of excellence in Asia, the United States and Europe. ”