Stahl Completed its Transformation From Wet-end Chemicals Business to Pure Play Speciality Coatings Company

Stahl  announced the sale of its wet-end leather chemicals business to Syntagma Capital. The planned transaction completes Stahl's transition to a pure-play specialist coatings formulator for flexible materials. Stahl is now better positioned to capture future development in sustainable coating formulations as a result of its recent acquisitions in North America and Europe.

The planned divestiture of the wet-end leather chemicals business would comprise 428 workers, the whole wet-end portfolio, and production sites in Italy (HQ) and India.

Strengthening focus and future growth

Stahl was founded in 1930 as a leather finishing firm and has since successfully extended its offering to include coatings for a variety of flexible materials. Stahl's divestiture of its wet-end leather business enables the company to concentrate on its core expertise in specialty coatings for flexible materials. Stahl is proud of its leather finishing legacy, which remains important to the company's development plan. Andrea Ceretta, the newly appointed Stahl Group Director Leather Finishing, has over 20 years of experience in the worldwide leather sector.

Stahl's CEO, Maarten Heijbroek, said, “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”, Heijbroek concludes.

Xavier Rafols, CEO of the new company mentioned,  “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.”

The proposed deal, which is subject to normal closing conditions such as information and engagement with works councils and other regulatory clearances, is scheduled to close in the first half of 2025.

Source: Stahl