OBERTSHAUSEN, Germany — February 28, 2020 — As part of its growth strategy, the KARL MAYER Group has concluded an agreement to acquire the STOLL Group. The contract was signed on February 26, 2020, and the Stoll Group is to be part of the Karl Mayer Group from July 1, 2020.
By acquiring Stoll, Karl Mayer is opening up additional technological growth potential and an innovative solutions portfolio in the flat knitting sector. Stoll is an international industry leader with approximately 1,000 employees and offers innovative tools and services for the knitting of tomorrow.
Karl Mayer is an innovative market leader for solutions in Warp Knitting, Warp Preparation for Weaving and Technical Textiles, with more than 2,300 employees worldwide.
“The acquisition is an important step in our growth strategy and we are proud to welcome Stoll into our Group. Stoll is an internationally recognised brand in the textile industry and has comprehensive technological expertise and an experienced team in the knitting sector,” explains Arno Gärtner, CEO of the Karl Mayer Group.
With the acquisition, Stoll will become part of the global Karl Mayer Group, an independent family business. As a result, Stoll will benefit from the broad global positioning of Karl Mayer’s sales, service and production sites, and from the opportunities for joint development, such as in the field of digital solutions.
“This alliance brings together two very strong brands in textile machinery building whose solutions portfolios and regional presence complement each other brilliantly. This will enable us to expand and accelerate our innovation strategy in the areas of digitalization and technology, and strengthen our global presence. Our customers will be able to benefit directly from this and increase their competitiveness in the dynamically changing textile industry,” says Andreas Schellhammer, CEO of Stoll.
Both family-owned companies can look back on a long and successful company history, and at the same time prove themselves time and again as trendsetters. In their respective market segments, they represent innovation, quality, long-term orientation, reliability and comprehensive expertise.
The complementary product portfolios and an even greater regional presence in all relevant markets will create new, high-level expertise in the international textile market. Karl Mayer is thus the only company in the textile industry to offer industry-leading solutions for the two main stitch-forming processes: knitting and warp knitting.
The group of companies will thus be even more broadly positioned in the future with the business areas: Warp Knitting, Technical Textiles, Warp Preparation, Flat Knitting and Digital Solutions. Customers can be accompanied beyond the boundaries of technology.
The contract is an asset deal. The well-established Stoll brand will be continued unchanged within the Group. Karl Mayer is therefore not only expanding its portfolio, but is also strengthening its market position with the new brand.
“Our clients were always our focus when preparing the transaction. By becoming part of the Karl Mayer Group, customers will benefit from additional impetus for innovation, particularly with regard to overarching issues such as digitalization. There will be no change to the usual customer support and service,” the CEOs of both companies are keen to emphasize.
Posted February 28, 2020
Source KARL MAYER Group