Textile machinery group Karl Mayer has completed its acquisition of flat-knit machine technology firm Stoll Group in a move that lays the foundation for new machine-based solutions, textile products, and digital offerings.
The Stoll Group became a part of Karl Mayer yesterday (1 July) and will continue its activities within the organisation as an autonomous business unit. Previous Stoll CEO Andreas Schellhammer will become president of the Stoll segment.
The merger sees Karl Mayer’s entire expertise in the fields of warp knitting, flat knitting as well as technical textiles, warp preparation for weaving and digital solutions, now housed under one roof.
“Stoll and Karl Mayer complement each other perfectly in terms of technology, they consistently rely on the proximity to their markets, and they are the innovation leaders in their sectors. The merger offers the basis for new machine-based solutions, textile products and digital offerings, which will make a major contribution to strengthening our customers in their business environment,” says Arno Gärtner, CEO of Karl Mayer.
One of the main aims in production is to increase the added value for more know-how protection, flexibility, and rapid delivery. Components from own production will be used group-wide, if possible, and the manufacture of the Stoll machines in China will be integrated into Karl Mayer’s 90,000 m² location in Changzhou.
Signed on 26 February, the deal was made for an undisclosed sum.