Textile machinery group Karl Mayer is expanding its technological growth potential with the acquisition of flat-knit machine technology firm Stoll Group.
Signed on 26 February, the deal was made for an undisclosed sum. The Stoll Group will become a part of Karl Mayer from 1 July.
“The acquisition is an important step in our growth strategy and we are proud to welcome Stoll into our group,” says Arno Gärtner, CEO of Karl Mayer. “Stoll is an internationally recognised brand in the textile industry and has comprehensive technological expertise and an experienced team in the knitting sector.”
Stoll, which employs around 1,000 staff, says it 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,” says Andreas Schellhammer, CEO of Stoll. “This will enable us to expand and accelerate our innovation strategy in the areas of digitalisation 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.”
Karl Mayer offers solutions in warp knitting, warp preparation for weaving and technical textiles, with over 2,300 employees worldwide.
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By GlobalDataThe Stoll brand will continue unchanged within the group.
