What started as part of an early succession plan in the first step with a share sale of 50.1% in November 2015, has now been finalized in a second step: With effect from 1 July 2019, the managing partners Gerhard Albert and Patrick Schneider sold their remaining 49.9% stake in Ströher GmbH to STO SE & Co. KGaA, based in Stühlingen. The implementation is still subject to the approval of the German Federal Cartel Office.
As a specialist for building coatings, the Sto Group is thus expanding its stake to 100% in a global ceramics company that specializes in the production and sale of facade, outdoor and residential ceramics in Dillenburg. CEO Gerhard Albert leaves the company on 30 June 2019. Patrick Schneider will remain the Company's Managing Director, ensuring continuity of management. It is planned to establish a second managing director soon. The market strategy of the Ströher Group with the brands Ströher, Gepadi and Ströher Living is to be continued unchanged. The investment measures will also continue to be implemented at the Dillenburg location as planned.
Gerhard Albert, CEO of Ströher GmbH: "The path to strategic partnership with Sto has proven to be the right decision over the past three years. Contrary to the generally difficult market development of the ceramics industry, we were able to achieve a good performance thanks to the expansion of our activities in tile and facade. Now, for me, this is the right time to take the second step and step out with the knowledge of the good hands in which the company and its employees are now."
With the purchase of Ströher GmbH, the Sto Group also acquires a specialist in the production of clinker brick slips, which enriches the surface assortment for use on facade and thermal insulation composite systems (ETICS).read on