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    In the world of investment, Wendel is unique.

    Its permanent capital and stable shareholder base give it the time and ability to carefully select and nurture the companies in which it invests. 

    Read more
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    • Governance principles
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    Wendel is a company with an Executive Board and a Supervisory Board, thereby setting out a clear division of responsibilities between the executives and the shareholders and between the company's management and its supervision.

    Read more
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    Supporting investment with our international presence

    1.  France
    2.  Luxembourg
    3.  North America
  • Companies

    Wendel Group companies are leaders in their industries and make innovation central to their development.

    Bureau Veritas
    35.8%
    Certification and verification
    Constantia Flexibles
    60.8%
    Flexible packaging
    Crisis Prevention Institute
    96 %
    Training services
    Cromology
    95.9%
    Manufacture and distribution of paints
    IHS
    21.3%
    Global mobile telecom infrastructure
    Stahl
    67.5%
    High-performance coatings and leather-finishing products
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    17/10/2014 12:09:09

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    NAV per share as of 09.30.20
    €145.3

    Press releases

    2019 Universal Registration Document

  • ESG

    Investing for the long-term

    Engaging with entrepreneurial teams to build sustainable leading companies

    Visit the ESG page

    • ESG Performance
    • ESG Approach
    • ESG at Wendel
    • ESG in companies
    • Ethics & Compliance
    • ESG Policies
    • Extra-Financial Performance Declaration
    • Corporate Patronage and Solidarity
    • ESG News
    • 2020 ESG Brochure
    • ESG Contact

 

logo_cromology_header_societe.png

vignette_video_cromology_2.png

See the video
95.9
Capital held by Wendel
(1) as of June 30, 2020.
Cromology innovates to drive growth

Cromology is a European leader in decorative paints. It has more than 14 brands recognized on their respective national markets.

Key figures

Discover how sustainability is embedded in Cromology's business model
2019 Sales

€667.8m

Amount invested by Wendel

 €550m since 2006 (2)

Employees

c. 3,300

No.1 in Italy and No.2 in France

Sites ISO 14001 certified

77%

Industrial sites OHSAS 18001 certified

100 %

Women (total headcount)

29 %

Water-based products

80%

(2) Cumulative amount of equity invested by Wendel in Materis and Cromology as of June 30, 2020. Injection of €125 million of own funds into Cromology in May 2019.

Why did we invest in Cromology?

Cromology is a European leader in decorative paints, a market valued at over €13 billion (the size of the market on which Cromology operates is €4.5 billion). Present in 9 European countries, Cromology designs, manufactures, sells and distributes a wide range of decorative paint and products to professionals and consumers. 65% of its activity is in France, 25% in Southern Europe and 10% in the rest of the world.

The decorative paint market is mainly driven by home renovations, which makes it a fairly resilient market offering long-term growth. It is generally accepted that a home needs repainting on average every eight years and more often if the occupant changes. This timeframe can be shorter or longer depending on the country’s economic activity, household confidence and purchasing power. Cromology’s end-customers are both professionals and consumers. They expect product quality and consistency, availability and excellent customer service, which Cromology provides through its brand portfolio offering the best value for money and a dense distribution network ensuring that it remains close to customers. Cromology has strong local brands, some in the top three of each of its markets, such as Tollens and Zolpan in France, Robbialac in Portugal, Max Meyer in Italy and Arcol in Morocco. Another of Cromology’s competitive strengths is that it generates 60% of its sales in its integrated distribution network of around 400 stores. This network distributes Cromology products along with a selected range of complementary products, such as tools or floor and wall coverings, to cater to the needs of a broad and diverse customer base. Indeed, 40% of its sales come from independent retailers and from large DIY stores. Cromology is growing as quickly on the thermal insulation market which accounted for around 30% of its business in 2019.
Furthermore, Cromology has adopted an aggressive innovation policy over the past decade, notably with the development of eco-certified products: each year, around 25% of its sales have been achieved with products less than three years old.

Key milestones of the investment

  • 01.04.2006
    Exclusive agreement between WENDEL Investissement and LBO France in view of the acquisition of Materis
  • 20.02.2006
    Wendel signe le contrat dacquisiton de Materis
  • 01.02.2008
    Materis paints rachète ICP Alltek
  • 05.15.2012
    Wendel announces - The successful completion of Materis’ debt renegotiation with a 91% extension rate - A strategic operation...
  • 07.03.2012
    Wendel and its company Materis announce
  • 10.01.2012
    Appointment of Bertrand Dumazy as CEO of Materis Paints’ business
  • 07.22.2014
    Materis - sale of parexgroup materis completed
  • 08.18.2014
    Materis completes successful refinancing of Materis Paints and Chryso and enters into exclusive talks to sell Chryso
  • 10.31.2014
    Materis finalizes the sale of Chryso
  • 09.10.2015
    New corporate governance for Cromology
  • 07.18.2017
    Cromology amends its banking terms, with the approval of nearly all of its lenders
  • 06.12.2018
    Senior management change at Cromology
    • Exclusive agreement between WENDEL Investissement and LBO France in view of the acquisition of Materis - 14.68 KB - PDF
    • Wendel signe le contrat dacquisiton de Materis - 16.81 KB - PDF
    • Materis paints rachète ICP Alltek - 26.91 KB - PDF
    • Wendel announces - The successful completion of Materis’ debt renegotiation with a 91% extension rate - A strategic operation... - 152.79 KB - PDF
    • Wendel and its company Materis announce - 44.46 KB - PDF
    • Appointment of Bertrand Dumazy as CEO of Materis Paints’ business - 206.23 KB - PDF
    • Materis - sale of parexgroup materis completed - 229.49 KB - PDF
    • Materis completes successful refinancing of Materis Paints and Chryso and enters into exclusive talks to sell Chryso - 164.2 KB - PDF
    • Materis finalizes the sale of Chryso - 184.4 KB - PDF
    • New corporate governance for Cromology - 223.99 KB - PDF
    • Cromology amends its banking terms, with the approval of nearly all of its lenders - 284.84 KB - PDF
    • Senior management change at Cromology - 149.02 KB - PDF
    Press releases of Cromology



    08.20.2018 - Loïc Derrien appointed as new CEO of Cromology




    08.20.2018 - Loïc Derrien appointed as new CEO of Cromology - 232.26 Ko - PDF





    06.12.2018 - Senior management change at Cromology




    06.12.2018 - Senior management change at Cromology - 149.02 Ko - PDF





    07.18.2017 - Cromology amends its banking terms, with the approval of nearly all of its lenders




    07.18.2017 - Cromology amends its banking terms, with the approval of nearly all of its lenders - 284.84 Ko - PDF





    09.10.2015 - New corporate governance for Cromology




    09.10.2015 - New corporate governance for Cromology - 223.99 Ko - PDF





    10.31.2014 - Materis finalizes the sale of Chryso




    10.31.2014 - Materis finalizes the sale of Chryso - 184.4 Ko - PDF





    08.18.2014 - Materis completes successful refinancing of Materis Paints and Chryso, and enters into exclusive talks to sell Chryso




    08.18.2014 - Materis completes successful refinancing of Materis Paints and Chryso, and enters into exclusive talks to sell Chryso - 164.2 Ko - PDF





    07.22.2014 - Materis: Sale of Parexgroup Materis completed




    07.22.2014 - Materis: Sale of Parexgroup Materis completed - 229.49 Ko - PDF





    10.01.2012 - Appointment of Bertrand Dumazy as CEO of Materis Paints’ business




    10.01.2012 - Appointment of Bertrand Dumazy as CEO of Materis Paints’ business - 206.23 Ko - PDF





    07.03.2012 - Wendel and its company Materis announce: • A strategic acquisition for Materis’ Mortars business • Final success of Materis’ debt renegotiation • The pursuit of the strategic review of Materis' portfolio




    07.03.2012 - Wendel and its company Materis announce: • A strategic acquisition for Materis’ Mortars business • Final success of Materis’ debt renegotiation • The pursuit of the strategic review of Materis' portfolio - 44.46 Ko - PDF





    05.15.2012 - Wendel announces: - The successful completion of Materis’ debt renegotiation with a 91% extension rate - A strategic operation for the Aluminates activity




    05.15.2012 - Wendel announces: - The successful completion of Materis’ debt renegotiation with a 91% extension rate - A strategic operation for the Aluminates activity - 152.79 Ko - PDF





    01.02.2008 - Materis paints rachète ICP / Alltek n°2 du marché français des enduits pelliculaires en pâte (in French)




    01.02.2008 - Materis paints rachète ICP / Alltek n°2 du marché français des enduits pelliculaires en pâte (in French) - 26.91 Ko - PDF





    02.20.2006 - WENDEL Investissement signe le contrat d’acquisition de Materis (in French)




    02.20.2006 - WENDEL Investissement signe le contrat d’acquisition de Materis (in French) - 16.81 Ko - PDF





    01.04.2006 - Exclusive agreement between WENDEL Investissement and LBO France in view of the acquisition of Materis




    01.04.2006 - Exclusive agreement between WENDEL Investissement and LBO France in view of the acquisition of Materis - 14.68 Ko - PDF



     

    Outlook for development

    The transformation plan and operational restructuring under the leadership of the new management team were presented at Wendel’s Investor Day in November 2019. As seen in 2019, improvements to the sales network and cost optimization have begun to bear fruit. Management aims to increase the EBITDA margin to around 10% in the medium term. This plan is aimed at implementing initiatives to stabilize and improve Group revenue and reduce the cost base, particularly through a new incentive plan for the sales team in France, the overhaul of its pricing policy, renegotiating supplier contracts, reducing the workforce in France and Italy and continuously adapting the Group’s cost structure.
    Furthermore, Cromology is developing strong digital innovation to significantly improve service quality and better satisfy its customers.

    Sustainable development and non-financial information

    The ambition of Cromology and its brands is to help our customers, professionals and individuals, to highlight their technical and aesthetic know-how, thus contributing in a lasting way to everyone’s comfort and well-being. This conviction means that, as a developer, manufacturer and distributor of decorative paints, Cromology is conscious of its responsibility to everyone—internal and external—who works toward sustainable and responsible growth. 

    Cromology’s ESG approach

    Sustainable products:

    An R&D approach to offer more environmental-friendly products, beyond the regulatory obligations.
    In 2019, 60% of products sold within three years are made with eco-labeled products. There is 60% of recycled pastic in the packaging of all Cromology products purchased in France. 

    Health & Safety at work:

    « Safety first » is a core value of Cromology.
    In 2019, 100% of all industrial sites have an OHSAS 18001 certification. 

    Responsible Purchasing:

    Formalization of ESG requirements through the signing of a “Responsible Purchasing” Charter by the main suppliers (100% in 2019), and an “Ethical Purchasing” Charter by the employees of the purchasing department (100% in 2019).

    Partnerships:

    Member of the European Industrial Association of Paint Manufacturers CEPE, Cromology participates in the working group on biocide users.

    Top management

    Pierre Pouletty

    Chairman

    Loïc Derrien

    CEO

    Wendel's role in corporate governance

    Board of Directors 

    Caroline Bertin Delacour
    Benoit Drillaud
    Charles Goulet
    Jérôme Richard
    Josselin de Roquemaurel

    Compensation Committee

    Josselin de Roquemaurel (Chairman)
    Caroline Bertin Delacour 
    Charles Goulet

    Audit Committee

    Benoit Drillaud (Président)
    Caroline Bertin Delacour 
    Charles Goulet
    Claude de Raismes

    For more information

    • Cromology's website
    • Twitter
    • Linkedin
    • Groupe
      • Purpose & Values
      • Strategy
      • Our shareholders
      • History
      • Contacts

      In the world of investment, Wendel is unique.

      Its permanent capital and stable shareholder base give it the time and ability to carefully select and nurture the companies in which it invests. 

      Read more
      • Purpose & Values
      • Strategy
      • Our shareholders
      • History
      • Contacts
    • Gouvernance
      • Governance principles
      • Supervisory board
      • Executive Board

      Wendel is a company with an Executive Board and a Supervisory Board, thereby setting out a clear division of responsibilities between the executives and the shareholders and between the company's management and its supervision.

      Read more
      • Governance principles
      • Supervisory board
      • Executive Board
    • Équipes
      • Corporate teams
      • Investment teams

      Supporting investment with our international presence

      1.  France
      2.  Luxembourg
      3.  North America
      • Corporate teams
      • Investment teams
    • Companies

      Wendel Group companies are leaders in their industries and make innovation central to their development.

      Bureau Veritas
      35.8%
      Certification and verification
      Constantia Flexibles
      60.8%
      Flexible packaging
      Crisis Prevention Institute
      96 %
      Training services
      Cromology
      95.9%
      Manufacture and distribution of paints
      IHS
      21.3%
      Global mobile telecom infrastructure
      Stahl
      67.5%
      High-performance coatings and leather-finishing products
      • Bureau Veritas
      • Constantia Flexibles
      • Crisis Prevention Institute
      • Cromology
      • IHS
      • Stahl
    • Investors
      • Wendel in brief
      • Wendel share
      • Net asset value
      • Results
      • Credit Investors
      • Individual shareholders
      • Annual General Meetings
      • Investor Days
      • Other presentations
      • Financial agenda
      • Regulated information
      • Coverage by analysts
      • Tools and downloads
      • Contacts

      17/10/2014 12:09:09

      Loading...

       

      NAV per share as of 09.30.20
      €145.3

      Press releases

      2019 Universal Registration Document

      • Wendel in brief
      • Wendel share
      • Net asset value
      • Results
      • Credit Investors
      • Individual shareholders
      • Annual General Meetings
      • Investor Days
      • Other presentations
      • Financial agenda
      • Regulated information
      • Coverage by analysts
      • Tools and downloads
      • Contacts
    • ESG

      Investing for the long-term

      Engaging with entrepreneurial teams to build sustainable leading companies

      Visit the ESG page

      • ESG Performance
      • ESG Approach
      • ESG at Wendel
      • ESG in companies
      • Ethics & Compliance
      • ESG Policies
      • Extra-Financial Performance Declaration
      • Corporate Patronage and Solidarity
      • ESG News
      • 2020 ESG Brochure
      • ESG Contact
      • ESG Performance
      • ESG Approach
      • ESG at Wendel
      • ESG in companies
      • Ethics & Compliance
      • ESG Policies
      • Extra-Financial Performance Declaration
      • Corporate Patronage and Solidarity
      • ESG News
      • 2020 ESG Brochure
      • ESG Contact
    • Press portal
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