Obertshausen - Warp knitting machine builder Karl Mayer has completed its acquisition of Stoll, officially creating a trans-technology global player that can offer the industry the latest in both warp and weft knitting expertise.
With the completion of the deal, Karl Mayer is now a major provider of solutions for the two most important stitch-forming processes, flat knitting and warp knitting with this expertise along with technical textiles, warp preparation for weaving and digital solutions now housed under one roof.
Under the terms of the deal, the financial details of which were not disclosed, Stoll will continue its activities within the Karl Mayer Group as an autonomous business unit with brand carrying on independently.
Karl Mayer will also rely on Stoll’s proven management with previous CEO, Andreas Schellhammer, becoming president of the Stoll business unit within the Karl Mayer Group.
Welcoming the deal, Karl Mayer Arno Gärtner said that with Stoll's excellent know-how and committed staff, the companies would build on a good basis for further joint developments. "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," he said. "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."
In the area of machine development, Karl Mayer said it was now possible for both companies to have access to each others technological principles whilst in the development of new textiles, customers would now be able to rely on a broader, cross-sector expertise. "(Customers) can benefit from the Group’s entire textile-technological know-how in the fields of warp knitting and flat knitting with an even increased application-oriented focus," Karl Mayer said, adding that the customers‘ contact persons will remain the same.
A further benefit of the acquisition will be seen in the production process where Karl Mayer says there will be an increase in added value for more know-how protection, increased flexibility and delivery times. For example, components from the production line will be used group-wide, if possible, and the manufacture of the Stoll machines in China will be integrated into Karl Mayer’s location in Changzhou. With a surface area of 90,000 m² and modern factory halls, the Chinese plant offers the perfect conditions for continuing Stoll‘s high-quality production in the region.
As Andreas Schellhammer noted, the integration project has been running smoothly, despite the added complexities of the coronavirus pandemic. "The teams from Stoll and Karl Mayer are full on schedule," he said. "They cooperate closely and being extremely dedicated, they complement each other’s strengths, and successfully live the merger."
The companies also highlighted how customers in China will remain with their usual contact partners and be able to rely on the resources and organization of Karl Mayer (China) for service and spare parts. Manufactured in-house, the spare parts are stored in larger quantities in China and are dispatched directly, ensuring short delivery times.
In terms of digitalization, the merger will also raise expectations for innovation leaps with advantages for both Stoll and Karl Mayer customers. Karl Mayer‘s KM.ON system is a highly agile software start-up that uses the potential of cloud-based concepts and of artificial intelligence to develop new digital solutions while Stoll also offers many years of experience in the software sector. "Together it will be possible to accelerate digital product developments enormously," Karl Mayer said. "When it comes to the manufacture of products for warp knitting, warp preparation for weaving and the areas of technical textiles, Karl Mayer is the innovative market leader with more than 2,300 employees worldwide. Stoll, with roughly 1,000 employees, stands for progressive tools and services for tomorrow’s knitting."