Hempel A/S announces its intent to divest J.W. Ostendorf and Renaulac as next step on strategic journey
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.
Key messages
- Hempel A/S announces its intention to divest J.W. Ostendorf and Renaulac.
- The sale would include a production site in Germany, stores in France, around 500 employees and a portfolio of customers.
- This sale would see Hempel take the next step on its strategic journey and focus its portfolio on the branded decorative business.
- The sale is expected to be completed in Q3 2024, pending relevant approvals.
Copenhagen, 6 May 2024: World-leading supplier of paint and coatings, Hempel A/S today announces the signing of an agreement to divest its J.W. Ostendorf and Renaulac business in France and Germany to Fidelium Partners, subject to relevant approvals.
The sale of Hempel’s predominantly private label business marks the next step on its ambitious growth strategy and brings strategic focus on growing the branded business in its Decorative customer segment.
Hempel acquired the predominantly private label business, J.W. Ostendorf and Renaulac, in 2018. Since then, Hempel has built a portfolio of decorative brands through further acquisitions, which now make up the majority of Hempel’s Decorative segment and comprise Farrow & Ball, Crown Paints, Hempel and Wattyl.
“In pursuit of achieving Hempel’s ambitious Double Impact strategy, we have made the strategic decision to focus on our full-service Deco brands within our Decorative segment,” says Ana Henriques, Executive Vice President and Head of Decorative at Hempel A/S. “The consequence of that focus is the sale of J.W. Ostendorf and Renaulac. In Fidelium Partners, we have found a committed new prospective owner with a long-term interest in growing the business. We believe that we have found a good new home for our around 500 colleagues from J.W. Ostendorf and Renaulac.”
The sale is expected to be completed in Q3 2024, pending relevant approvals. Transactional details will remain confidential, according to the terms of the purchase agreement.
Kontakter
Joanna AshmeadHead of Media Relations
Tlf:+45 3077 2816communications@hempel.comBilleder
Om Hempel
Hempel, der er en af verdens førende leverandører inden for pålidelige malingsløsninger, er en global virksomhed med stærke værdier, som samarbejder med kunder inden for segmenterne husmaling, marine, infrastruktur og energi. Hempel har et globalt set-up med fabrikker, innovations- og forskningscentre samt lagre på tværs af lande og regioner.
Hempels maling og overfladebehandlinger beskytter og udsmykker bygninger, infrastruktur og andre aktiver, og spiller en vigtig rolle i vores kunders globale forretning. De hjælper med at minimere vedligeholdelsesomkostninger, giver forbedret æstetik og bedre energieffektivitet.
Hos Hempel er formålet at skabe en bedre fremtid med bæredygtige løsninger til overfladebehandling. Vi er overbeviste om, at vejen til succes ligger i at gøre bæredygtighed til kernen i vores forretning. Det er ikke bare det rette at gøre, det vil også styrke vores konkurrencedygtighed, gøre os mere modstandsdygtige og minimere risici.
Hempel blev etableret i København i 1915. Hempel Fonden er den stolte ejer af Hempel og er med til at sikre et solidt økonomisk grundlag for Hempel-koncernen. Fondens andet formål er at støtte kulturelle, sociale, humanitære og forskningsrelaterede formål i hele verden.
About Fidelium Partners
Fidelium is a Munich-based investment firm experienced in complex corporate carve-outs and focuses on businesses with operational improvement potential across Europe.
Backed by a number of German business families, an equity fund of EUR 150m is available for acquisitions, follow-on investments, and add-ons.
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