News Markets & Companies
Henkel to acquire Stahl: A milestone for the speciality coatings industry
Henkel, a major European player in adhesives and coatings, has entered into an agreement to acquire Stahl, the world leader in speciality coatings for flexible materials, for an enterprise value of EUR 2.1 billion. The transaction, announced on 4 February 2026, marks the end of 20 years of majority ownership by Wendel, which holds a 68.5% stake in Stahl. BASF (16.1%) and Clariant (14.6%) are also shareholders in the company.
The acquisition reflects a strategic alignment between the two organisations, particularly in innovation, customer-centricity, and ESG leadership. Both companies operate in complementary speciality markets and aim to leverage their synergies to strengthen their offerings for shared end markets. Henkel’s robust innovation capabilities are expected to accelerate Stahl’s growth in its niche area of coatings for flexible materials, enhancing its technology portfolio and global footprint.
Innovation and ESG leadership drive the partnership
Maarten Heijbroek, CEO of Stahl, emphasised the transformative journey under Wendel’s ownership, which helped establish Stahl as a focused speciality coatings leader. “Under Wendel’s ownership, Stahl has undergone a significant transformation into a pure-play speciality coatings company with a strong global footprint, strengthened technologies, and a resilient market position. This transformation means we are now well-positioned for further growth,” Heijbroek said.
Business continuity ensured during transition
Stahl has assured its employees, customers, and partners that operations will remain unchanged during the transition period. The company will continue to operate with its existing organisation and fulfil its commercial and operational commitments. The completion of the transaction is subject to regulatory approvals and customary closing conditions, with further updates expected as the process advances.
