This move enables Stahl to focus on its core expertise in coatings for flexible materials.
Stahl has announced the divestment of its wet-end leather chemicals business to Syntagma Capital. The transaction includes 428 employees, the complete wet-end portfolio, and manufacturing facilities in Italy (headquarters) and India.
This sale marks the completion of Stahl’s transformation into a pure-play specialty coatings formulator for flexible materials. With recent acquisitions in packaging coatings across North America and Europe, Stahl is now well-positioned to capitalize on growth opportunities in sustainable coating formulations.
“In recent years, Stahl has made a deliberate strategic shift towards premium coatings, establishing ourselves as the market leader in coatings for flexible materials. The divestment of our wet-end leather chemicals business completes this transformation. Stahl is now a pure-play coatings formulator, which will allow us to accelerate innovation and sustainability to enhance consumer experiences and to live our purpose: Touching lives, for a better world. At the same time, we are accelerating investments in growth, with a new manufacturing plant in Singapore, doubling our capacity in China and investments in new Centers of Excellence in Asia, the US and Europe. I’d like to thank all Stahl wet-end employees for their considerable contribution to Stahl over the years and wish them every success under their new ownership,” has stated Maarten Heijbroek, CEO of Stahl.
“Our newly independent company combines over a century of expertise with the dynamism of a start-up. We’re building our business on the core values of integrity, excellence, agility and courage. Through innovation, sustainability and expertise, we will deliver solutions that help our clients face today’s challenges and tomorrow’s opportunities. In this way, we are not simply a solutions provider but an end-to-end partner nurturing bonds that last. We look forward to continued collaboration with stakeholders across the value chain to drive progress in the leather industry,” has added Xavier Rafols, CEO of Syntagma Capital.
Founded in 1930 as a leather finishing company, Stahl has expanded its portfolio to encompass coatings for a wide range of flexible materials. By divesting its wet-end leather activities, Stahl can now focus more on its expertise in specialty coatings for flexible materials. While leather finishing remains a proud part of Stahl’s heritage, it continues to be a key component of its long-term growth strategy. The Stahl Leather Finishing business will now be led by Andrea Ceretta, appointed Stahl Group Director of Leather Finishing, who brings over 20 years of experience in the global leather industry.