Further to securing regulatory approval, Hempel now formally enters a strategic partnership with CVC, which brings complementary competencies and resources to support the acceleration of Hempel’s growth and value creation plan.

In a change to its governance, Christoffer Sjøqvist, partner and head of CVC Denmark and Michael Lavrysen, partner at CVC, join the Board of Directors of Hempel A/S.

Sjøqvist first joined CVC Denmark in 2006. He is a member of the CVC Nordics team and based in Copenhagen. Prior to joining CVC, he worked at Warburg Pincus, Lazard Private Equity and Goldman Sachs in the M&A department.

Lavrysen first joined CVC in 2005. He is a member of the CVC Strategic Opportunities investment platform and is based in Brussels. Prior to joining CVC, he worked in the leveraged finance department of J.P. Morgan in London.

“I am very pleased to welcome Christoffer Sjøqvist and Michael Lavrysen to the Hempel A/S Board of Directors,” Richard Sand, chair of the Hempel A/S Board of Directors, said. “Throughout the process, I have had the chance to get to know both Christoffer and Michael firsthand, and highly value their deep knowledge and unique experience that will support Hempel’s accelerated growth journey. We look forward to our future partnership and have no doubt that with Christoffer and Michael’s contribution to the board, we are in a strong position to make the next great leaps in Hempel’s future.”

“Hempel’s development over the years has been very impressive and we are delighted to be joining their ongoing growth story,” Sjøqvist said. “We are excited to partner with the Hempel Foundation and Hempel’s CEO Michael Hansen and his team, and look forward to supporting Hempel with CVC Funds’ capital and experience to help them achieve their growth ambitions.”

“CVC Strategic Opportunities invests in high-quality businesses with longer growth horizons, often partnering with likeminded families and foundations looking for specific expertise to advance expansion,” Lavrysen noted. “Our investment in Hempel aligns perfectly within this strategy, especially the partnership with the Hempel Foundation and we are eager to begin to leverage CVC’s expertise to support the continued success of this world-class business.”

Eric Alström has stepped down from the Board of Directors of Hempel A/S, having served on the board since 2017.

“We thank Eric for his great contribution to the Hempel A/S Board of Directors as deputy chair. During his seven-year tenure, Hempel A/S has taken major and very important steps on its transformation journey and Eric can be proud to have played an integral part in securing Hempel A/S’s bright future,” said Sand.

Søren P. Olesen, CEO of STARK Group A/S, has been appointed deputy chair of the Hempel A/S Board of Directors.

“Since 2018, Søren has played an active role on the Hempel A/S Board of Directors, and I am delighted that he has been elected to the position of Deputy Chair,” said Sand. “Hempel A/S benefits greatly from Søren’s deep industry experience and insight and I am convinced that under Søren’s continued advisory and guidance, the business will continue to grow and thrive. Søren is a visionary board member, who brings a focus on sustainability and a drive for cutting-edge innovation and technology development.”

The Hempel Foundation continues to be the majority shareholder in Hempel A/S. The entire Board of Directors of Hempel A/S now consists of 10 members, including three employee-elected representatives.