(CercleFinance.com) – Wendel announces that Stahl has signed an agreement to acquire ICP Industrial Solutions Group (ISG). This company is a leader in high performance coatings for packaging. The transaction will be completed for an enterprise value of approximately $205 million.
ISG, a division of ICP Group (Innovative Chemical Products Group), provides a wide range of high performance coatings primarily for packaging and labeling, primarily in the resilient food and pharmaceutical markets.
The company has a strong presence in North America (nearly 70% of its turnover). It is expected to post revenue of around $140 million in 2022.
“Following the successful acquisitions and integrations of Clariant LS in 2014 and BASF LC in 2017, that of ISG will contribute to making Stahl a company exceeding one billion euros in turnover. Stahl is taking another important step in its strategy to become the world leader in the market for high performance coatings for flexible materials. ‘ said Laurent Mignon, Chairman of Wendel’s Management Board.