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.

Attachment

• PR_Wendel_ClosingCflex_04012024