WENDEL: Sale of Constantia Flexibles to One Rock Capital Partners is completed
04 Gennaio 2024 - 6:00PM
WENDEL: Sale of Constantia Flexibles to One Rock Capital Partners
is completed
Sale of Constantia Flexibles to One Rock
Capital Partners is completed
After obtaining the necessary authorizations,
Wendel announced today it completed the sale of Constantia
Flexibles (“The Company”) to an affiliate of One Rock Capital
Partners, LLC (“One Rock”).
The transaction generated net proceeds1 for
Wendel of €1,094 million for its shares. Wendel earned upon closing
additional proceeds of €27 million from the sale of some Company’s
ancillary assets bringing total proceeds to Wendel to €1,121
million, i.e. a valuation over 10% higher than the latest NAV on
record before the announcement of the transaction (as at March 31,
2023).
The total amount of this operation reflects a
multiple of 2.0x Wendel’s net total investment in Constantia
Flexibles since 2015.
This transaction is one of the largest on the
European private equity market in 2023.
Agenda
Wednesday February 28, 2024
FY 2023
results – Publication of NAV as of December 31, 2023, and
Full-Year consolidated financial statements (post-market
release)
Thursday April 25, 2024
Q1 2024 Trading
update – Publication of NAV as of March 31, 2024
(post-market release)
Thursday May 16, 2024
Annual General Meeting
Wednesday July 31, 2024
H1 2024 results – Publication
of NAV as of June 30, 2024, and condensed Half-Year consolidated
financial statements (post-market release)
Thursday October 24, 2024
Q3 2024 Trading
update – Publication of NAV as of September 30, 2024
(post-market release)
Thursday December 5, 2024
2024 Investor Day
About Wendel
Wendel is one of Europe’s leading listed
investment firms. The Group invests in Europe and
North America in companies which are
leaders in their field, such as ACAMS, Bureau
Veritas, Constantia Flexibles, Crisis Prevention Institute,
IHS Towers, Scalian, Stahl and Tarkett. Wendel often plays an
active role as a controlling or significant shareholder
in its portfolio companies. Wendel seeks
to implement long-term development strategies, which
involve boosting growth and margins of companies so as
to enhance their leading market positions. With Wendel Growth
(formerly known as Wendel Lab), Wendel also invests via funds or
directly in innovative, high-growth companies.
Wendel is listed on Eurolist by Euronext
Paris.
Standard & Poor’s ratings: Long-term: BBB,
stable outlook – Short-term: A-2 since January 25, 2019
Moody’s ratings: Long-term: Baa2, stable outlook
since September 5, 2018
Wendel is the Founding Sponsor of Centre
Pompidou-Metz. In recognition of its long-term patronage of the
arts, Wendel received the distinction of ‘Grand Mécène de la
Culture’ in 2012.
For more information: wendelgroup.com
Follow us on LinkedIn
@Wendel
Press
contacts |
Analyst and investor contacts |
Christine Anglade
Pirzadeh: + 33 1 42 85 63 24 |
Olivier Allot: +33 1 42 85 63 73 |
c.anglade@wendelgroup.com |
o.allot@wendelgroup.com |
|
|
Caroline Decaux: +33 1
42 85 91 27 |
Lucile Roch: +33 1 42 85 63 72 |
c.decaux@wendelgroup.com |
l.roch@wendelgroup.com |
|
|
Primatice |
|
Olivier Labesse: +33 6
79 11 49 71 |
|
olivierlabesse@primatice.com |
|
Hugues Schmitt: +33 6
71 99 74 58 |
|
huguesschmitt@primatice.com |
|
|
|
Kekst CNC |
|
Todd Fogarty: +1 212
521 4854 |
|
todd.fogarty@kekstcnc.com |
|
1 Net proceeds after ticking fees, financial
debt, dilution to the benefit of the Company’s minority investors,
transaction costs and other debt-like adjustments.
- PR_Wendel_ClosingCflex_04012024
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