Henkel AG & Co. KGaA has agreed to acquire Stahl, a Netherlands-based producer of
high-performance specialty coatings for flexible materials, serving companies across
the automotive, fashion & lifestyle and packaging markets. Stahl’s portfolio consists
of leather finishing coatings, performance coatings as well as high-performance
paper packaging & graphics coatings.
“With the acquisition of Stahl, we will further strengthen our Adhesive Technologies
business unit in line with our strategic agenda for purposeful growth. It will enable us
to expand into the attractive adjacent category of specialty coatings with product
offerings in core as well as in new end-markets, driving further growth in our
Adhesive Technologies business unit.” said Henkel CEO Carsten Knobel.
Stahl employs approximately 1,700 people and generates annual revenue of EUR 725
million (2.9x EV / Revenue).
1/27/26
Universal Chemicals
and Coatings
PRO-SET
Formulated
Resin Systems
(Iron Path
Capital)
–
PRO-SET Formulated Resin Systems (“PFRS”) has acquired Universal Chemicals and
Coatings, an Illinois-based manufacturer of custom industrial coatings, laminating
adhesives and container linings.
This marks the third acquisition for PFRS, following its acquisition of Gougeon
Brothers, Inc. in May 2025 and Wessex Resins and Adhesives in December 2025.
Furthers PFRS’ strategy to build a global formulated resin systems business focused
on highly specified formulated products for fabricating, bonding, sealing, coating and
repair of advanced non-metallic and metallic composite structures for marine,
aerospace, defense, electronics and industrial applications.
1/22/26
Chemical business of
Kyocera Corporation
Sumitomo
Bakelite
Company Limited
$189M –
Sumitomo Bakelite Company Limited has agreed to acquire the Chemical business of
Kyocera Corporation. Kyocera’s chemical business, based in Japan, manufactures
epoxy-resin molding compounds for encapsulation of semiconductor devices,
bonding pastes for semiconductor devices and resins for industrial use.
Enhances Sumitomo’s presence in the information & communications technology
industry.
1/14/26
Key Polymer
(DalFort Capital
Partners)
Seatex
(The Riverside
Company)
–
Seatex has acquired Key Polymer, a Massachusetts-based manufacturer of highperformance
adhesives, sealants and coatings for a diverse range of industries.
“Key Polymer is an excellent complement to the Seatex platform,” said Riverside
Partner Craig Kahler. “This represents our first follow -on acquisition since we
acquired Seatex in October 2024 and materially advances our plans to expand the end
market and geographic reach of the platform.”
3/19/26 Diversified Plastics
The Rubber
Group
(River Associates)
–
The Rubber Group has acquired Diversified Plastics (“DPI”), a Montana-based
precision plastic manufacturer offering urethane casting, thermoforming, machining
and injection molding.
“The combination is about growth. We are bringing together complementary
capabilities to better serve customers,” said Rob Pruyn, President, The Rubber
Group. “By combining rubber, plastics, and urethane capabilities, we can offer a
broader range of engineered solutions to both customer bases, and the cross-selling
opportunity is significant.”
DPI will now be known as Diversified Plastics Industrial Solutions.
