Two of the biggest textile machine manufacturers, both headquartered in Germany, are becoming one.
As part of its growth strategy, the Karl Mayer Group has reached an agreement to acquire the Stoll Group. The deal was concluded on Feb. 26 and the Stoll Group is to become part of the Karl Mayer Group on July 1.
By acquiring Stoll, Karl Mayer said it’s opening up additional technological growth potential and an innovative solutions portfolio in the flat knitting sector, where Stoll is an international industry leader with approximately 1,000 employees.
Stoll is known to offer some of the most innovative machinery and services for the knitting sector, leading to advancements in automation. Karl Mayer is a market leader for solutions in warp knitting and preparation for apparel 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,” Arno Gärtner, CEO of Karl Mayer Group, said. “Stoll is an internationally recognized brand in the textile industry and has comprehensive technological expertise and an experienced team in the knitting sector.”
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,” Stoll CEO Andreas Schellhammer said. “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.”
“Our clients were always our focus when preparing the transaction,” the CEOs of both companies said jointly. “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.”