The Stahl Group have completed the acquisition of the intellectual property, trade names and customer list from the USA based company Salem Oil & Grease effective October 21, 2002.
Salem Oil & Grease are a hundred year old, family-held business servicing the wet end of the leather industry. The business will be integrated with Stahl’s current activities in the colours & tanning products range to further strengthen Stahl’s presence in the wet-end of the leather industry and allow the Salem Oil & Grease name and product line to remain a strong competitor in the marketplace.
There will be no manufacturing assets included in the sale. The products involved will partly be manufactured by Stahl USA, partly by other Stahl units. The sales and technical service for this business will be handled by Stahl USA.
Gary Hanson, president of Salem Oil & Grease, and Bill Margaritas, sales technician, will join the Stahl team. Stahl USA’s general manager and executive vice president of the international Stahl group, Jon Bouchard, said: ‘The resources of Stahl and the experience of Gary and Bill will be a winning combination and will ensure uninterrupted quality product and service to Salem’s customer base.’
This is the first acquisition for Stahl as a stand-alone company and is an illustration of the commitment and willingness of Investcorp to further invest in core activities which support Stahl’s growth strategy.
