Brussels, Belgium (November 18th, 2024) – Syntagma Capital today announces that one of its affiliates reached an agreement to acquire the Wet-End leather chemicals business of Stahl, a portfolio company of Wendel (EPA: MF). The Wet-End Business is a global leader in leather chemical formulations, offering a comprehensive range of differentiated, innovative and ESG-driven solutions serving the footwear, automotive, luxury goods and home furnishing industries.

The Business employes 428 employees in over 20 countries, with 20 application labs worldwide and production sites in Italy and India. In 2023, the Business generated ca. €225m in revenues.

The proposed transaction, which is subject to customary closing conditions, including the information and consultation of works councils and other regulatory approvals, is expected to be completed in the first half of 2025.

About Syntagma Capital

Syntagma invests in companies that can benefit from hands-on operational expertise to accelerate growth and improve performance for all stakeholders. We are true operators with experience working in and managing companies on a global scale, leveraging our in-house resources to develop successful strategies, execute them to realize their full potential and create sustainable long-term value. Syntagma invests and operates companies in a broad range of industries with a specific focus on the material, chemical, industrial and business services markets and including manufacturing, distribution, transportation and logistics, equipment rental, metals services and other industries. Syntagma, as signatory of the UN PRI, is committed to high ESG standards across all its investments and is based in Brussels, Belgium. For more information, please visit: https://syntagmacapital.com

About Stahl

is the world leader in specialty coatings and treatments for flexible materials. Stahl’s innovative solutions can be found in everyday materials used in countless industries and markets, including automotive, apparel, luxury goods, footwear, packaging and home furnishings, touching the lives of people everywhere. From the very beginning, Stahl’s ambition has been to provide carelessness to its customers and end users, and to contribute to a safer society. Partnership and collaboration have become increasingly important drivers to meet ever-evolving product, societal and environmental challenges. To contribute to a better world, Stahl has established a robust ESG roadmap that underlines the company’s sustainability ambitions through to 2030. This includes Stahl’s firm commitment, validated by the Science Based Targets Initiative (SBTi), to reduce its greenhouse gas emissions. Around the world, nearly 2,200 Stahl colleagues are driven by a shared purpose: touching lives, for a better world. Headquartered in Waalwijk, the Netherlands, Stahl operates a global network of 14 manufacturing sites and 37 strategically located application laboratories, supported by sales offices in 22 countries. Contact Business Development Phone: +32 (0)2 315 70 12 Email BD@syntagmacapital.com

Contact
Business Development
Phone: +32 (0)2 315 70 12
Email BD@syntagmacapital.com