(CercleFinance.com) – Wendel announced yesterday that Stahl has completed the acquisition of ICP Industrial Solutions Group.
ICP is a leader in high performance coatings for packaging and labeling applications. The company offers a complete portfolio of high performance varnishes. ICP Industrial is mainly active in North America (nearly 70% of sales), where it is a recognized leader and is also present in Europe, under the HiTech Coatings brand.
ICP Industrial reporting revenue of approximately $140 million in 2022, ‘Acquisition will drive Stahl’s annual revenue to over €1 billion, with EBITDA margin over 20% ‘, says Wendel.
Maarten Heijbroek, Managing Director of Stahl said: ‘The acquisition will strengthen our growth profile, diversify our target markets and broaden our technology base. ‘