Wendel Explores Potential €2 Billion Sale of Chemicals Giant Stahl

Wendel, the French private equity firm and owner of ACAMS, is reportedly considering selling its chemicals manufacturing business Stahl in a deal valued at up to €2 billion, according to reports.

The company is said to be working with JPMorgan Chase and Morgan Stanley to facilitate the potential sale, which could take place as early as next year. This development comes after Wendel acquired ACAMS, the American training firm, for €500 million in 2022.

Bloomberg, which first reported the news, cited sources familiar with the matter, suggesting the valuation for Stahl could reach €2 billion ($2.1 billion). However, the report also emphasized that discussions are still in the preliminary stages, and Wendel may decide not to proceed with the sale.

Neither Wendel nor representatives from JPMorgan, Morgan Stanley, or Stahl have provided any comment on the matter.

Stahl, a leading player in chemical applications for materials like leather used in luxury handbags and car seats, recorded €914 million in sales last year. Wendel currently holds a 68% stake in the company, which it acquired alongside the Carlyle Group in 2006 for €520 million. Stahl underwent a significant debt restructuring in 2010, and Wendel previously explored options for a sale or IPO in 2018.

Shares of Wendel, listed on the Paris stock exchange, fell by 0.2% on Tuesday, leaving the firm with a market capitalization of €4.2 billion.

The potential sale of Stahl marks another significant chapter in Wendel’s portfolio management strategy, though it remains to be seen whether the transaction will materialize.

By fLEXI tEAM