Stahl, a provider of coatings technologies headquartered in the Netherlands, has completed the acquisition of ICP Industrial Solutions Group (ISG), a leader in high-performance coatings for packaging and labeling applications. 

ISG offers a comprehensive portfolio of high-performance coatings used primarily in packaging and labeling applications, notably in the food and pharmaceutical sectors. ISG is primarily active in North America (close to 70% of sales), where it is a recognized technical leader. It also operates in Europe, under the “HiTech Coatings” brand name.

In addition to enhancing Stahl’s product offering and manufacturing capabilities, the acquisition stands to strengthen the company’s environmental, social, and governance (ESG) leadership position. The integration of ISG coating technologies (water-based and energy-cured) will enable Stahl to support customers in their transition to more sustainable packaging.

With ICP Industrial Solutions Group reporting sales of approximately USD 140 million in 2022, the acquisition will bring Stahl’s annual sales beyond the EUR 1 billion mark, with an EBITDA margin above 20%.