Stahl to acquire ICP Industrial Solutions Group

Stahl has agreed to acquire ICP Industrial Solutions Group (ISG), a leader in high-performance packaging coatings. This transaction is expected to strengthen Stahl’s position in the field of specialty coatings for flexible materials.

A business meeting.
Safic-Alcan will distribute functional silanes from Evonik.  Image source: geralt - Pixabay (symbol image).

ISG, a division of Innovative Chemical Products (the ICP Group), offers a comprehensive portfolio of high-performance coatings used primarily in packaging and labeling applications, notably in the resilient food and pharmaceutical sectors. ISG is mostly present in North America (close to 70% of sales).

Sales of approximately EUR 130 million

According to company information, ISG is expected to report 2022 sales of approximately EUR 130 million, and the acquisition will bring Stahl’s annual sales beyond the EUR 1 billion mark, with an EBITDA margin above 20%. Stahl has secured a new financing of approximately EUR 540 million for the acquisition, with a group of relationship banks, extending maturities until 2028. It will also be available to refinance its existing credit facilities and fund future external growth, with a focus on specialty coatings.

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