Grace Matthews Advises Stahl on Acquisition of ICP Industrial Solutions Group
Stahl has agreed to acquire ICP Industrial Solutions Group (ISG), a high-performance packaging coatings manufacturer. ISG, a division of Innovative Chemical Products (the ICP Group), offers a 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). The transaction is expected to close before the end of quarter-one of 2023, subject to customary conditions. Grace Matthews served as the financial advisor to Stahl on the transaction.
ISG is expected to report 2022 sales of approximately $140 million, and the acquisition will bring Stahl’s annual sales beyond the €1 billion mark, with an EBITDA margin above 20%. Stahl has secured a new financing of $580 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.