Stahl, a provider of coatings technologies headquartered in the Netherlands, has agreed to acquire ICP Industrial Solutions Group (ISG), a producer of high-performance packaging coatings. The transaction is expected to close before the end of Q1 2023, subject to customary conditions.
ISG, a division of the ICP (Innovative Chemical Products) Group, offers coatings used primarily in packaging and labeling applications, notably in the resilient food and pharmaceutical sectors. ISG is a global business with nearly 70% of its sales in North America. ISG generates annual sales of approximately $140 million.
According to the company, Stahl sales will exceed €1 billion after the acquisition. Stahl is a portfolio company of Wendel Group.
Grace Matthews served as the financial advisor to Stahl on the transaction.