Stahl divests wet-end leather business
Manufacturer of speciality coatings for flexible materials Stahl has announced the sale of its wet-end leather chemicals business to Syntagma Capital, a private equity firm based in Brussels. The divestment includes the transfer of 428 employees, the complete wet-end portfolio, and manufacturing facilities in Italy and India.
The transaction is expected to close in the first half of 2025, pending regulatory approvals.
According to Stahl, this sale aligns with its strategy to focus on speciality coatings. Founded in 1930 as a leather finishing company, it has since diversified into coatings for various flexible materials. It has made recent acquisitions in packaging coatings in North America and Europe.
CEO, Maarten Heijbroek, has said the move will allow Stahl to enhance its innovation and sustainability efforts. Leather finishing remains integral to Stahl’s business, now led by Andrea Ceretta as group director for leather finishing.
The divested unit will operate independently with Xavier Rafols as its CEO. It will focus on leveraging the expertise that Stahl has built up in the leather industry, with an emphasis on innovation and sustainability.
