Private equity firm CVC Capital Partners Ltd. has agreed to eventually own a minority stake in Danish coatings business Hempel A/S.
The Hempel Foundation invited CVC Funds to become a minority investor in Hempel, according to May 7 news releases on both companies’ websites. CVC Funds, as the minority investor, will subscribe to new shares and own 30% of the coatings business over time. The Hempel Foundation will remain the majority shareholder of Hempel.
Christoffer Sjøqvist, Partner and Head of CVC Denmark, said:
“Hempel’s development over the years has been very impressive and we are delighted to be joining their ongoing growth story. We are excited to partner with the Hempel Foundation and Michael and his team, and look forward to supporting Hempel with CVC Funds’ capital and experience to help them achieve their growth ambitions.”
The companies expect the deal, which still needs regulatory approval, to close in the second half of 2024.