The Hempel Foundation, in agreement with the Hempel A/S Board of Directors, has agreed to invite CVC Funds to become a minority investor in Hempel A/S. According to Hempel, the partnership with CVC will support the acceleration of Hempel’s growth and value creation plan, such as increasing investment in the development of new sustainable technologies.

“The competitive landscape is moving at an increasingly faster rate in the paint and coatings industry, and we need to continue to grow to remain at the forefront,” says Michael Hansen, Group President and CEO of Hempel A/S. “We have already made solid progress on our strategy of driving profitable growth, both organically and inorganically through M&A activity, delivering record-breaking results in 2023. This new partnership will considerably strengthen our industry position, will ignite further growth in our winning brands and means we are well-placed to seek out transformative acquisition opportunities.”

The Hempel Foundation will continue to be the majority shareholder in Hempel A/S.

In other company news, Hempel announced its intent to divest J.W. Ostendorf and Renaulac. The prospective new owner, Fidelium Partners, would take over the production site in Germany and stores in France, together with around 500 employees and a portfolio of customers.

The sale is expected to be completed in Q3 2024, pending relevant approvals.