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Wendel (group)

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Wendel S.E.
Company typeSociété Anonyme
Euronext: MF
CAC Mid 60 Component
ISINFR0000121204 Edit this on Wikidata
IndustryInvestments
Founded1704
FounderJean-Martin Wendel
Headquarters
Paris
,
France
Key people
André François-Poncet(CEO), David Darmon (Group Deputy CEO)
ProductsIndustrial holdings
Number of employees
c.100 (end 2018)
Websitehttps://www.wendelgroup.com/en

Wendel is a French investment company. The company is managed by André François-Poncet, Group CEO and David Darmon, Group Deputy CEO. Since July 2018, the Chairman of the Supervisory board is Nicolas ver Hulst.

Shareholders

Its main shareholders, as of 31.12.2019, are:[1]

  • Wendel Participations SE: 39.1%
  • Institutional investors: 35.2%
  • Individual shareholders: 19.3%
  • Employees, corporate officiers and other: 3.4%
  • Treasury shares: 2.0%

Subsidiaries and participations

Wendel is the reference shareholder of the following main companies:

Governance

Supervisory board

  • Nicolas ver Hulst, Chairman
  • Gervais Pellisser, vice-chairman
  • Franca Bertagnin Benetton
  • Bénédicte Coste
  • Edouard de l'Espée
  • Nicholas Ferguson
  • Nicolas ver Hulst
  • Priscilla de Moustier
  • Sophie Parise
  • Guylaine Saucier
  • Jacqueline Tammenoms Bakker
  • François de Wendel
  • Humbert de Wendel [2]

Executive board

  • André François-Poncet, Group CEO
  • David Darmon, Group Deputy CEO

News

In October 2019, Wendel signed an agreement to acquire U.S. company Crisis Prevention Institute (CPI) from San Francisco-based FFL Partners in a deal with an enterprise value of $910 million.[3]

In April 2014, Wendel confirmed that the acquisition of Clariant’s Leather Services division by Stahl has been completed. In exchange for the sale of its assets to Stahl, Clariant received 23% of the shares of Stahl and a cash payment of €74 million. Wendel remains the principal shareholder of Stahl, with c.70% of the group’s capital.[4]

In April 2014, Wendel increases its total investment in IHS to $475 million.[5]

In December 2013, Wendel realized its first investment in Japan, through Oranje Nassau Développement, with the acquisition of Nippon Oil Pump Co., Ltd. (NOP). Wendel has invested ¥3,2bn (c.€24M), subject to price adjustments, and holds 98% of the company, alongside management.[6]

In November 2013, Wendel pursues its strategy of investment in Africa, becoming a shareholder of the pan-African group Saham, based in Morocco and majority-held by its founder and CEO, Moulay Hafid Elalamy. Wendel intends to support Saham in its future, long-term growth and development.[7]

In July 2013, Wendel increases it investment in IHS Holding to $276 million.[8]

In June 2013, after 11 years as reference shareholder, Wendel completes the successful sale of its remaining stake in Legrand.[9]

In April 2013, the rating agency Standard & Poor's raised its long-term rating on Wendel from "BB" to "BB+", with stable outlook.[10]

In April 2012, after obtaining the necessary authorizations, Wendel sold Deutsch to the industrial group TE Connectivity.[11]

In March 2012, Frédéric Mitterrand, Minister of Culture, awarded Wendel with the distinction of Great Patron of Culture. This distinction acknowledges its commitment to arts and in particular to the Centre Pompidou-Metz.[citation needed]

In July 2011, Wendel announced the acquisition of Mecatherm, the world leader in industrial bakery equipment.[12]

In July 2011, the rating agency Standard & Poor’s revised from "stable" to "positive." Wendel’s "BB-" credit rating after the company improved its financial profile, including its "loan to value" ratio.[citation needed]

In June 2011, Wendel became reference shareholder of the Swiss technology company Exceet Group AG, via the investment structure Helikos.[citation needed]

In May 2011, Wendel and Saint-Gobain established the principles and objectives of their long-term cooperation.[13]

In March 2011, Wendel bought the car rental specialist Parcours for €107m.[14]

Shareholder of Stallergenes since 1993, Wendel sold its shares (46%) of the world leader in immunotherapy treatment for allergic respiratory diseases, to Ares Life Sciences in November 2010.[15]

In May 2010, Wendel became the founding sponsor of the Centre Pompidou-Metz.[7]

In June 2008, Sophie Boegner, Ernest-Antoine Seillière's cousin, denounced the conditions through which 15 Wendel managers invested in 4.7% of the company's stock in May 2007. In August 2011, the public prosecutor dismissed the case. In a sequence of dismissal, Judge Renaud Van Ruymbeke pronounced which if a leaders of Wendel completed “significant gains” in reorder of a collateral Wendel, “this actuality alone can not concede a characterization of injustice of association assets”.[16] The public prosecutor had previously closed the "misappropriation of funds and concealment" case, deeming that no penal qualification resulted from the case, given the contradictory elements transmitted by the Autorité des marchés financiers and given the results of an internal investigation.

In May 2008, Wendel sold Editis to the Spanish group Planeta.[17]

In October 2007, the Initial Public Offering of Bureau Veritas brought 1.2 billion euros. Wendel has stayed the majority shareholder with 63%.

In September 2007, Wendel sold the totality of its 2.4% shares in Neuf Cegetel for €148M.[citation needed]

In September 2007, Wendel became the first shareholder of Saint-Gobain,[18] a leader in construction materials, by exceeding 15%.

References

  1. ^ Ownership structure
  2. ^ "The Supervisory Board". Wendell Group. Retrieved 2 September 2015.
  3. ^ "French investment firm Wendel to buy U.S. company CPI in $910 mln deal". Reuters. 2019-10-15. Retrieved 2019-10-15.
  4. ^ "WENDEL : Stahl completed the acquisition of Clariant Leather Services". GlobeNewswire. 16 April 2014.
  5. ^ "Wendel increases its total investment in IHS to $475 million" (PDF). 30 April 2014.{{cite news}}: CS1 maint: url-status (link)
  6. ^ "WENDEL : ORGANIC GROWTH OF 4.6% IN Q3 2013". Reuters. 8 November 2013.
  7. ^ a b "WENDEL : Wendel has become a shareholder in Saham Group, the leading African insurance group, alongside its founder and majority shareholder". Reuters. 28 November 2013.
  8. ^ "WENDEL : Wendel détient 35% d'IHS après l'augmentation de capital". LesEchos/Bourse. 24 July 2013.
  9. ^ "Wendel cède le solde de sa participation dans Legrand". Reuters. 10 June 2013.
  10. ^ "WENDEL : GROWTH IN CONSOLIDATED Q1 2013 SALES OF 3.0%". Reuters. 14 May 2013.
  11. ^ "WENDEL : sells Deutsch to TE Connectivity". 4-traders. 4 April 2012.
  12. ^ "Wendel SA Acquires Mecatherm Group via Oranje-Nassau Developpement". Reuters.
  13. ^ "Wendel and Saint-Gobain establish the principles and objectives of their long-term cooperation". Reuters. 26 May 2011.
  14. ^ "Wendel Swings To Pft In FY10, Buys Parcours Stake For EUR107M", The Wall Street Journal - March 23, 2011
  15. ^ "Wendel to Sell Stallergenes Stake to Bertarelli's Ares for $489.1 Million", Bloomberg - October 29, 2010
  16. ^ "WENDEL MATTER: NOT NECESSARY IN THE INVESTIGATION OF THE REORGANIZATION OF THE GROUP". Ya20 Portal World News. Retrieved 4 September 2015.
  17. ^ "Planeta plans to buy Editis with equity, debt". Reuters. 2008-04-22. Retrieved 2019-10-15.
  18. ^ "Wendel takes 6% stake in Saint-Gobain", The Financial Times - September 26, 2007
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